Foreign Buyers Discouraged By Limited Loans

Hamdani explained while more international buyers have expressed interest in Dubai properties few are selling. Jones Lang LaSalle company said internationally hotel investment may drop up to 58.3% because of the ongoing global financial crisis. Deloitte & Touche hospitality director Alex Kyriakidis said the main problem now is lack of financing. Alex Kyriakidis said “There are owners who want to realize value or attract partners and there are interested buyers in the Dubai hospitality industry, but the problem which will continue for at least the next six to nine months is the lack of credit.”