Corporate foreign exchange news

Dubai offers opportunities for foreign currency buyers

Monday, 18 January 2010 08:47:28 GMT

Published by Zeb Bham
Property investors have been advised not to dismiss the market in Dubai, as there are still attractive opportunities in the emirate.
Commenting recently, Nicholas Marr, chief executive of Homesgofast.com, said that the market is undergoing a period of adjustment following the announcement that the government-owned investment group Dubai World was struggling to pay its debts.
He said that the biggest price falls are likely to be seen in commercial property where demand has plummeted in recent weeks.
"This offers commercial sector opportunities to secure a position in Dubai at very good prices," he said, adding that it also makes the emirate an attractive location for those planning to relocate staff to the region.
According to the latest figures from UAE property development firm Asteco, the price of property in the state stabilised in the fourth quarter, although overall rental rates for apartments are down 24 per cent year on year.
For more information on purchasing currency for regular or one-off payments, visit our Personal FX siteADNFCR-2522-ID-19561671-ADNFCR
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