GCC richlist eye London, New York, Singapore for property investments - ArabianBusiness.com

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GCC-based high net worth individuals are set to continue investing in global real estate for the remainder of the year, with 63 percent claiming that they are likely to invest in their most preferred real estate investment location during 2016, according to Cluttons. The third instalment of Cluttons’ 2016 Middle East Private Capital Survey showed that London, New York and Singapore are the destinations of choice - outside of the Middle East - for the region’s wealthy. According to Cluttons, London has emerged as the favourite global property investment destination among respondents, with 11 percent naming the British capital as their most preferred city for investment. In the first quarter of 2016, Middle East investors pumped $418 million into London’s commercial real estate, accounting for 7 percent of total investment during that period. This adds to the $5 billion inve...

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