Middle Eastern investors remain active in the US real estate market, but are turning their focus away from the traditional investment magnets of Manhattan and Los Angeles to focus on non-mainstream opportunities in gateway and secondary markets, where both the prices and the competition for good opportunities are relatively low.
This was recently exemplified by the purchase of a little-known US shopping centre by a Middle Eastern investor. The investor, Omar Ayesh, is based in Dubai. He purchased the Belle Forge Square shopping centre for 6.3 million USD alongside his brother, Salah Ayesh. The Belle Forge Square is located in Antioch, Nashville, Tennessee, and sits on 13.4 acres.
Omar Ayesh works for Nobles Properties, which has offices in the UAE and Jordan, while Salah Ayesh is a US based real estate investor and the owner of Invesco Inc. The brothers were reportedly attracted to the investment opportunity by its high potential, with Salah Ayesh saying that he plans to recruit other foreign investors to take advantage of the recent economic boom in Nashville. “Antioch is booming and it’s a good property,” he said.
Salah Ayesh has made other property investments in the area, including the Crescent Plaza, a 114,000-square-foot shopping centre.
Following their initial investment, the Ayesh brothers plan to spend another 365,000 USD on improvements to the Belle Forge Square property.
Naseba has spent over a decade building a network of contacts with investors based around the world – including the Middle East. We are currently sourcing real estate and development projects in the US on behalf of these investors.
On October 17th, 2016, we will be organising a private investor meeting in Riyadh to introduce pre-screened Middle Eastern investors to pre-qualified US real estate investment opportunities.
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To learn more, contact:
Naseba investor introduction
+971 4 455 7954