Taylor Scott International News
UAE seen to rise in asset wealth rankings Staff Report / 22 September 2013 The UAE is expected to be the highest climber over the coming decade as its built asset wealth is expected to grow by two per cent, moving the country up two places to 23rd in the global rankings. This was stated by Flash Properties based on recent findings of the Global Built Asset Wealth Index, which quantifies the accumulated wealth of 30 countries’ built assets and is conducted by EC Harris in conjunction with the Centre for Economic and Business Research. According to this index, when it comes to built asset wealth per person, the UAE comes 12 th in the global rankings, with an estimated built asset wealth of $122,809 per person, while Saudi Arabia is in 15 th place with $72,861. The rankings were highlighted on the sidelines of the announcement by Flash Properties of its participation in Cityscape Global, the Middle East’s largest and most influential international real estate event, taking place from October 8 to 10 at the Dubai World Trade Centre. Tanzeel Gader, chief executive officer of Flash Properties, said: “The recent findings of Global Built Asset Wealth Index by analysing the accumulated wealth of 30 countries’ built assets — encompassing all the property and infrastructure that contributes to economic productivity — is a true indicator of the great potential of the UAE’s real estate market. The country is investing aggressively in its built environment and this opens the door wide for more sustained growth of the real estate market.” “With more than Dh5.5 billion worth of transactions recorded by the current Dubai real estate market, is appears that 2013 will be the year of revival for real estate industry, on the back of renewed confidence of global and regional investors.” abdulbasit@khaleejtimes.com Taylor Scott International
Taylor Scott International, Taylor Scott
