Mideast Investors Lose Interest in U.S. Real Estate Despite Recent Sales of Landmark Offices
Media outlets around the world picked up Joseph Gulant’s comments on the waning interest of Middle East investors in U.S. commercial real estate—in conjunction with the stumbling U.S. economy—despite recent sales of landmark offices.
Earlier this month, Abu Dhabi Investment Council—one of the world’s largest sovereign wealth funds—bought a 75 percent stake in
However,
New York is currently the top spot, worldwide, for foreign commercial real estate dollars. So far this year, property prices have more than held up in
“There’s a notion it’s a safe haven, that markets like
Mr. Gulant expects property values in more popular cities like
“Mideast Investors Lose Interest in U.S. Real Estate Despite Recent Sales of Landmark Offices” appeared in International Herald Tribune July 28, 2008. This article also appeared in Forbes.com,