Would a real estate guy lie to you?

Now is the perfect time to invest in Abu Dhabi real estate!

The real estate market in Abu Dhabi has become tempting for investment because of the decline in prices due to the global financial crisis, a member of the emirate’s executive council said yesterday.

Sheikh Sultan bin Khalifa Al Nahyan said the property sector in the Emirate is passing through what he termed as a correct period triggered by the global crisis and the ensuing crash in crude prices.

“The current period is extremely encouraging and tempting for investment in the real estate market in the emirate following the decline in property prices, which have become very attractive compared with the previous period,” he said at the end of the three-day Abu Dhabi Real Estate and Investment Show (IREIS2009).

“This of course was a result of the measures taken by the UAE government to deal with the crisis. I am sure the government will not spare any effort in extending more support and injecting more liquidity into the economy and the banking system to ensure banks function normally.”

Sheikh Sultan said the property sector in Abu Dhabi, one of the richest cities in the world, would further improve in the next few months and this “would make the market even more encouraging and tempting for investment”.

“The message I would like to convey at this show is that the current period is very suitable for property investment given the relatively low prices.”

You might interpret the prediction that “the property sector would further improve in the next few months and this ‘would make the market even more encouraging and tempting for investment’ ” as an admission that the Sheikh thinks prices will continue to fall, but I’m sure it sounds different in Arabic.

2 Comments

Filed under Uncategorized

2 responses to “Would a real estate guy lie to you?

  1. Anonymous

    hey chris, what is the address for a new listing in OG, mls # 72044 — 3beds w/waterviews for 4.9m?