PHOTO
04 June 2017
The British public will go to the ballot boxes on Thursday, June 8, to decide which party will run their country and manage their withdrawal from the European Union.
“Although the market currently appears calm ahead of the event, this event does represent a risk for emerging assets and this will include those markets in the UAE [United Arab Emirates] and GCC [Gulf Cooperation Council] region,” Lukman Otunuga, a Dubai-based research analyst at foreign exchange house FXTM, said in a opinion piece.
The choice is between Theresa May’s governing Conservative Party and Jeremy Corbyn’s opposition Labour Party.
“Investors in general stacked their cards heavily in favour of Theresa May being declared the winner following the unexpected calling of a snap election, but opinion polls are currently showing that the race to win the election is going to be close,” Otunuga added.
Last week, Farhad Azizi, CEO of Azizi Developments, said growing protectionist policies in the West will ultimately benefit the UAE’s real estate sector, despite the challenging economic climate as a result of the low oil price.
His optimistic outlook for 2017 has been cemented by an increase in demand as a result of barriers and immigration policies being set by the United States (U.S.) and Europe.
The opinions echo the results of a survey released in March which found that 40 percent of British businesses looking to expand overseas are now looking to the Middle East for opportunities, with 75 percent considering Dubai.
The survey, commissioned by the Dubai Multi Commodities Centre, found that 63 percent said emerging markets have become increasingly attractive, while 44 percent cited the region’s availability and wealth of overseas talent. A third of respondents said there was too much uncertainty in the markets and the UK at the moment and the country was no longer an attractive option.
Looking in the other direction, the Middle East’s wealthy investors are increasingly looking beyond London for lucrative opportunities in a post-Brexit UK.
“The UK regions are more popular than they were — developers and investors if they want something outside London, Manchester and Edinburgh would be the first picks,” said Alan Robertson, CEO for JLL’s Middle East and Africa operations. “There are cities like Birmingham, Leeds and Bristol.
Further reading:
© Express 2017
The British public will go to the ballot boxes on Thursday, June 8, to decide which party will run their country and manage their withdrawal from the European Union.
“Although the market currently appears calm ahead of the event, this event does represent a risk for emerging assets and this will include those markets in the UAE [United Arab Emirates] and GCC [Gulf Cooperation Council] region,” Lukman Otunuga, a Dubai-based research analyst at foreign exchange house FXTM, said in a opinion piece.
The choice is between Theresa May’s governing Conservative Party and Jeremy Corbyn’s opposition Labour Party.
“Investors in general stacked their cards heavily in favour of Theresa May being declared the winner following the unexpected calling of a snap election, but opinion polls are currently showing that the race to win the election is going to be close,” Otunuga added.
Last week, Farhad Azizi, CEO of Azizi Developments, said growing protectionist policies in the West will ultimately benefit the UAE’s real estate sector, despite the challenging economic climate as a result of the low oil price.
His optimistic outlook for 2017 has been cemented by an increase in demand as a result of barriers and immigration policies being set by the United States (U.S.) and Europe.
The opinions echo the results of a survey released in March which found that 40 percent of British businesses looking to expand overseas are now looking to the Middle East for opportunities, with 75 percent considering Dubai.
The survey, commissioned by the Dubai Multi Commodities Centre, found that 63 percent said emerging markets have become increasingly attractive, while 44 percent cited the region’s availability and wealth of overseas talent. A third of respondents said there was too much uncertainty in the markets and the UK at the moment and the country was no longer an attractive option.
Looking in the other direction, the Middle East’s wealthy investors are increasingly looking beyond London for lucrative opportunities in a post-Brexit UK.
“The UK regions are more popular than they were — developers and investors if they want something outside London, Manchester and Edinburgh would be the first picks,” said Alan Robertson, CEO for JLL’s Middle East and Africa operations. “There are cities like Birmingham, Leeds and Bristol.
Further reading:
- Is the British election May's to lose?
- Could the upcoming UK election represent a risk to UAE and GCC markets?
- UK's Labour leader Corbyn says could suspend Syria air strikes if elected
- Podcast: Impact of Brexit on Dubai based businesses
© Express 2017
