Arab Today, arab today afghan buyers target uae
Last Updated : GMT 00:26:33
Arab Today, arab today
Arab Today, arab today

Emirati property promising

Afghan buyers target UAE

Arab Today, arab today

Arab Today, arab today Afghan buyers target UAE

Shoreline apartments, Palm Jumeirah
Dubai - Arabstoday  

Shoreline apartments, Palm Jumeirah Dubai - Arabstoday   Wealthy Afghans are pouring millions of dollars into the UAE property market, in the run up to NATO withdrawing from the country in two years time. According to a number of estate agents spoken to by Arabian Business, properties in the Palm are amongst the areas being targeted for cash deals.Wealthy An estimated $8bn is believed to have been stashed away in Dubai by Afghan investors in recent years, according to experts. “They come and spend cash and they know what they want. They are mainly looking for the Palm. Just right now, we have two or three big negotiations that we can close… We are talking about AED9m ($2.45m)  plus.” said Gabor Szalay, director of Provident Estate. “In the last couple of months, we have seen an increase in enquires in nationals from there,” added David McCormack, group operations director at the Dubai-based Olive Property Group. In 2009, ahead of the last Afghan election, millions of dollars  made its way out of Afghanistan in suitcases and even on pallets loaded into aircraft, according to police at Kabul\'s main airport. Former vice president Zia Masood was stopped entering Dubai carrying cash worth $52m and released without question, according to a cable from the US Embassy in Kabul that appeared on the whistleblower website Wikileaks. In 2010 the Afghan government took over Kabul Bank - the country\'s biggest commercial bank - after a run on deposits caused by revelations that the bank\'s owners had lost millions of dollars they loaned to themselves to purchase property investments in Dubai. It is not just Palm apartments that are the target for Afghan cash buyers, McCormack said they are also looking to invest in companies and smaller properties which offer stable returns. “It is really just securing their future… a lot of the Afghans we speak to, and we speak to many high profile Afghanis, they are all concerned about the longevity of the Afghani market and the value of money there,” he said. “Their assets in Afghanistan, what is going to happen? Do they move their money to a safe haven like Dubai where at least they have some stability? That is what we are finding.” The exodus of money out of the country is “the main topic of conversation” in Kabul at present said Naseem Akbar, who heads Afghanistan\'s Investment Support Agency and whose job is to lure investment, rather than stop it going out. “The worry is about the country going into crisis, and parallel to that is that from now until 2014 we must work out how to avoid such a calamity,\" he told Reuters. A US government audit report last year found it was almost impossible to track where much of the billions of dollars spent on security and development projects in the last decade had gone given the country\'s dysfunctional financial tracking system and poor bank oversight.  

arabstoday
arabstoday

GMT 14:39 2017 Tuesday ,19 September

Catherine proud for contract with Morocco

GMT 20:39 2017 Wednesday ,13 September

Al Shamri calls for supporting the Islamic

GMT 03:58 2017 Wednesday ,13 September

Saudi is ready to expand production cuts

GMT 09:43 2017 Sunday ,10 September

Workplace safety key concern

GMT 18:47 2017 Sunday ,03 September

Diplomat underlines importance of visit

GMT 17:39 2017 Saturday ,02 September

Minister underlines support for OPEC cut deal

GMT 19:47 2017 Friday ,01 September

MP blames government for performance

GMT 20:21 2017 Tuesday ,29 August

Dow, Aramco Possible Equity of Sadara
Arab Today, arab today
Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today afghan buyers target uae Arab Today, arab today afghan buyers target uae

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today afghan buyers target uae Arab Today, arab today afghan buyers target uae

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today Egypt tourism revival steady but slow

GMT 16:04 2017 Tuesday ,19 September

Egypt tourism revival steady but slow
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today 600,000 children may flee to Bangladesh

GMT 06:49 2017 Monday ,18 September

600,000 children may flee to Bangladesh
Arab Today, arab today Equifax executives step down

GMT 16:16 2017 Saturday ,16 September

Equifax executives step down
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Ministry seeks to improve education

GMT 14:49 2017 Sunday ,17 September

Ministry seeks to improve education
Arab Today, arab today New Zealand opposition looks

GMT 10:35 2017 Thursday ,14 September

New Zealand opposition looks
Arab Today, arab today 5,000 'Dieselgate' deaths in Europe per year

GMT 19:18 2017 Monday ,18 September

5,000 'Dieselgate' deaths in Europe per year
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Five trends at the Frankfurt auto show

GMT 12:04 2017 Monday ,18 September

Five trends at the Frankfurt auto show
Arab Today, arab today Renault-Nissan to launch

GMT 10:44 2017 Saturday ,16 September

Renault-Nissan to launch
Arab Today, arab today Eman Al Assy receives three offers

GMT 06:31 2017 Saturday ,16 September

Eman Al Assy receives three offers
Arab Today, arab today 'Severe' Typhoon Doksuri pounds Vietnam

GMT 15:49 2017 Friday ,15 September

'Severe' Typhoon Doksuri pounds Vietnam

GMT 11:10 2017 Friday ,15 September

Fadl Shaker retreats from surrendering himself

GMT 05:05 2017 Tuesday ,12 September

Pregnant woman's suicide roils China

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 10:25 2017 Thursday ,14 September

Greece fumbled oil spill response

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 04:45 2017 Sunday ,17 September

France's hurricane-hit St Martin

GMT 21:57 2017 Sunday ,17 September

Russia and Iraq restore air travel

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 12:56 2017 Friday ,15 September

Apple's grand plan in Ireland held up by a forest

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday