Investment from the Middle East now accounts for 16 per cent of funds coming into the UK commercial property market, new figures show.
Property investment in London
commercial development assets from the Middle East has trebled in the last five years, it has been claimed.
Middle Eastern funds now account for 16 per cent of investments in the UK commercial property market, according to Gulf News.
Only five years ago this figure stood at just five per cent, but last year some £1.47 billion was invested.
The publication cites figures from international property consultancy DTZ, which points at major deals such as the £334 million acquisition of Bishops Square in London by Oman as having contributed significantly to the figure.
London is a suitable place for Middle Eastern investors to buy as it is very easy to set up Sharia-compliant investment funds, the publication explains.
A weak pound and the promise of "trophy assets" in London will continue to attract foreign investors for some time yet, Andrew Teacher of the British Property Federation claimed recently.
Posted by Tess Nelson.
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