The group’s hospitals continued to be a core driver of its performance, with net profit from these businesses jumping more than 31 per cent to Dh137 million
business2 hours ago
“Real estate is a traditional hedge against inflation and that will become a force in the UAE market as GCC rents head upwards again making real estate ownership the only way to beat surging rents,” says Dr Rasim Kaan Aytogu, Group Executive Director of Saudi Arabia based, Tanmiyat Investment Group.
He said it is a resumption of the investment circle favouring property investment and will be compounded by lower global interest rates to counter the recession (which are again inflationary), hence making it cheaper to buy property in UAE, according to a Press release.
“All the same, this could ascertain to be no more than a short bull market correction for UAE property. But that’s not going to prevent it from being painful and terminal for some off-plan investors and weaker property developers,” he said.
Dr. Kaan said it’s hard to see foreign money flowing back quickly into UAE real estate as the revaluation of the US dollar is making property here much more expensive for buyers from the UK, Europe and Russia. However, foreign money flows should resume as global capital markets thaw out and money is attracted by the prospect of higher returns.
“Factors that could stabilise the market advance of the worldwide inflationary surge include: government action to provide low-cost mortgage finance; incoming funds from overseas markets in a repeat of the flow after 9/11 which energised the Dubai real estate boom; former local stock market investors turning to property for high yields; and the lack of alternative investment opportunities overseas during a turbulent financial period,” said Dr. Kaan.
Governments of the world have not been standing idle over the past eight weeks as the worst financial crisis since the 1930s Great Depression has spread around the globe.
Bank bailout packages now total more than $4 trillion, about twice the annual GDP of Great Britain and over the past six weeks US money supply has risen by 35 per cent, a historically unprecedented increase in the money supply.
Almost all economists agree that an increase in the money supply on this epic scale and after a long period of flat money supply growth is going to be heroically inflationary.
The group’s hospitals continued to be a core driver of its performance, with net profit from these businesses jumping more than 31 per cent to Dh137 million
business2 hours ago
Directives issued to step up pre-monsoon cleaning drives, surveillance activities
asia3 hours ago
Temperature expected to touch a maximum of 43ºC in internal areas
uae4 hours ago
Some studies suggest that certain types of music, like classical or ambient, might be beneficial for cognitive tasks requiring concentration and attention
uae5 hours ago
The 32-year-old, who came out of retirement last month, is grateful to have another crack at the World Cup
cricket11 hours ago
'My kids' hero is Ronaldo' now I hope it's me' said the 2024 World Snooker Champion after his opponent Jones lost the first seven frames of the best of 35 frames contest
sports11 hours ago
The authority is dedicated to upgrading its patrol vehicles, including electric or hybrid models, to enhance police operations
uae12 hours ago
’He always had a smile about him and would firmly hold on to his mother’s hand when she dropped him off for private tuition classes', one said
uae12 hours ago