Despite Tension, Middle Eastern Commercial
Investment Soars
Middle Eastern investors continue to pour
large sums into U.S. commercial real estate, even as anti-American sentiment
persists in the region. These buyers spent approximately $579 million on
U.S. property during 2003's first quarter, a 34 percent increase from the
same period in 2002, reports Real Capital Analytics Inc. This spending
growth reflects a larger trend; in 2002 Middle Eastern investors acquired
more than $1.2 billion in U.S. commercial real estate, compared with $263
million the previous year.
Analysts report that the increase in investing may reflect the commercial
properties that Middle Eastern investors are pursuing. Middle Eastern
investors have proven more willing to buy "risky" properties than investors
from other countries.
Source: Wall Street Journal
(05/07/03); Muto, Sheila
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