Middle Eastern investors are showing a great deal of interest in property in Central Florida, according to real estate insiders. The renewed interest in the Sunshine State, perhaps best known for its amusement parks and alligators, is being attributed largely to the establishment of direct flights from Dubai to Orlando by UAE-based carrier Emirates Airlines.
Orlando-based real estate brokers are apparently seeing new relationships being build and deals being brokered on a variety of property types, including vacation homes and parcels of undeveloped land. CBRE First Vice President Robbie McEwan has reportedly sold 50 acres of land in the attractions area to a group of investors from Egypt. According to McEwan, investors from the Middle East prefer to purchase undeveloped property that they can hold.
Ataul Haq, a real estate agent based in Orlando, contends that though Middle Eastern investors have been influenced by the establishment of the new direct flight, it is not their key motivation. Haq believes the investors have been spurred to pursue foreign investment mainly due to financial turbulence caused by low oil prices.
Haq’s comments are by no means a standalone observation. This recent pattern of Middle Eastern investors divesting from the region and investing into core assets in prime real estate markets outside of the Middle East has emerged through the research of Middle East based organisations like Naseba.
Naseba is a multinational business facilitation company that has spent over a decade years building an extensive network of investor contacts in the Gulf region, and leveraging this network for deal facilitation purposes. The company’s investor analysts speak with investors based in the Gulf region on a daily basis, gathering survey results and data regarding their investment preferences and mandates.
The most recent results of these research calls indicate that Middle Eastern investors are seeking investment opportunities in stable foreign property markets, include the United States and Canada. Investors are particularly interested in luxury multi-family homes, apartments, castles and villas with the possibility for property and rent upgrade. They prefer to take complete ownership of these properties and employ a company to manage them.
In April 2016, Naseba will be organising a Real Estate Investors Meeting in Doha, Qatar.
At the meeting, real estate investment project holders from around the world will be introduced to qualified investors from the Gulf region, including Qatar, Kuwait and Saudi Arabia.
To submit your business case and register for the meeting, click here.
For more information contact:
Head Business Analyst
UAE: +971 4455 7954
USA: +1 773 840 6166