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Real estate is re-emerging as a preferred asset class among UAE investors, Friends Provident International has said in a new report.
The latest Friends Provident International (FPI) Investor Attitudes Report said the preference for investing in property now stands at its highest ever level, with a score of 17 – having started at -2 in the initial wave of research in Q2 2010.
Property prices in Dubai soared after the city opened its real estate sector to foreign investors in 2002, granting them freehold ownership rights at many developments.
But house prices in Dubai suffered the biggest reversal seen in the Gulf property market as a result of the financial crisis, declining on average by about 60 percent.