The investors from India, Hong Kong and Singapore are now under the fascination of Dubai. With the prices of Dubai-based properties registering a growth, they have become the ‘Apple of the eye’ of these Asian investors. According to the Chief Executive Officer of Standard Chartered for Europe, Middle East, Africa and Americas, V Shankar, “Initial signs of interest are emerging among Asian investors to invest in Dubai's real estate where the prices have been pretty attractive following a sharp drop over the past two yearsâ€.
A Bank of America Merrill Lynch report had mentioned that the prices of property in Dubai have witnessed a dip of 45% when compared to the peak levels it had registered during the third quarter of 2008. But the HC Securities report that was revealed yesterday is a complete contradiction with this. According to the HC Securities report, the cost of Dubai properties are on a growth mode, that is a complete reflection of the increase in interest people have in the real estate sector of the Emirates.
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