Brexit unlikely to affect Dubai markets

Brexit unlikely to affect Dubai markets
05/08/2016 , by , in INTERNATIONAL

British investors are one of the largest group of investors in Dubai’s property markets but the decision by the UK to leave the European Union is unlikely to have much of an impact, according to international real estate firm JLL.

British citizens are the third largest investors into Dubai’s real estate market, potentially leaving them more susceptible to any negative impacts from Brexit, however, JLL’s Craig Plumb, Head of research for The Middle East and North Africa, believes that any negative ramifications will only be temporary. ‘Even though it is too early to predict the long-term implications, overall there is a slight probability of British investors being negatively impacted by the devaluation of the British Pound following Britain’s decision to exit the European Union,’ he said.

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