Investors have money to spend on property in the Middle East and North Africa, but a lack of good opportunities at reasonable prices spells more stagnation for the region's markets, according to a survey by Jones Lang LaSalle.
Almost three quarters of large institutional investors surveyed said they planned to invest in property in the Middle East and North Africa (Mena) in the next year, while only 8 per cent said they were looking to sell.Yet the property consultancy predicted that transactions would be limited by political instability, concerns about oversupplied markets and a dearth of solid investment opportunities.While regional funds were focused on investing at home, he said, international investors were looking increasingly to developed markets, where they could see better returns.That means the Mena region is "missing out on foreign institutional investment", according to the report.Unrest in the region is among the top concerns for investors, the report says.The central issue, however, is that investors are focusing on stable, income-generating assets, but finding such properties is a challenge.
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