Cluttons: Iranian investor could stir up Dubai property market

UAE Dubai property market

The well-renowned properties consultancy Cluttons said in its 2015 UAE property report that Iranian investors could provide a timely lift to the property market in Dubai.

Iranian investors are expected to have bigger roles in the real estate markets of GCC states since the Iranian is poised to flourish in the coming especially after lifting the sanctions on oil exportation.

Faisal Durrani, the head of research at Cluttons, said that there is anecdotal evidence of Iranian businesses in Dubai gearing up for growth.

Durrani said that many Iranian businessmen in UAE were seen looking for more office space, retail space, or industrial space. He added also that others are seeking loans to fund expansion.

Old figures reveal how Iranians were always interested with investment in Dubai property market. Iranians national were accounted for 12% of all property transactions in 2010, however, this figure dropped to 3% by the first quarter of this year.