In a move which has surprised some in the property market, the Islamic bank Gulf Finance House (GFH) has advised clients in the Gulf to take a serious look at UK commercial property as they believe that the sector looks good value after recent falls. While the timing of the advice may be a little debateable, the level of Gulf based investment into the UK has been growing for some time.
The bank advises a number of high profile wealthy clients and it seems that many of them are looking to increase their exposure to the UK in due course. GFH made an interesting observation about the lack of so called ‘bear markets’ in the UK property sector and they believe that this latest ‘correction’ offers a good entry point for investors who have been looking towards the UK for some time.
It will be interesting to see the follow through from this advice as some of the investment companies in the Gulf States have literally billions of dollars waiting to be invested when the time is right. Whether the investment tide has turned yet in the UK property market still remains to be seen.