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Sat 21 Apr 2007 01:49 PM

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Real estate spend forecast

Property services firm Jones Lang LaSalle has estimated that GCC nations could spend US $20 billion on global real estate this year, an increase of more than 60% on last year.

Property services firm Jones Lang LaSalle has estimated that GCC nations could spend US $20 billion on global real estate this year, an increase of more than 60% on last year. In 2006, Arab investors ploughed $7 billion into US property, a decline on 2005 figures, and experts believe more petrodollars could be headed for the Asian markets instead. The UK, Germany and South Africa are also popular.

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