?Why on Gulf money for sterling after the Brexit

Nicholas Maclean, managing director for the Middle East in the company, "CBRE" stressed that the decision to Britain out of the European Union Brexit led to convert a lot of money to the Gulf GBP waiting for the right opportunities in the British real estate sector.

MacLean said in an interview with the channel "Arab" that he did not notice an influx of funds from Britain or the European countries to the Middle East after the decision to exit from the European Union, but what we have observed is the transfers of large-scale funds, from the Gulf currencies to the pound sterling and is deposited with banks London, waiting for the right opportunities in the real estate sector, and these amounts are estimated at $ 4 billion or $ 5 billion.

He said that the approach witnessed in the market before the decision Brexit is that the greatest interest in the real estate market before the mega-rich Gulf family businesses rather than sovereign funds and institutions, adding that the total amount of money coming out of the Gulf to the real estate market in London reached $ 24 billion last year, and predicted similar value of investments this year, rising to a value of $ 30 billion for next year.

Through McLean believes that 50 percent of funds invested outside the UAE heading to Britaana This is a stunning, explaining that the reason is that the London-known investors in the Arab region, and many have homes in London and the movement between the two destinations very easy.

He pointed to a decline in international investors ' interest in the Turkish real estate market is strong, and it began before the recent events , but thedomestic market remains strong, and the interest continues from the Saudi family business that continues to invest in the Asian side of Turkey.
MacLean said the negative repercussions of the recent events in Turkey were lower than we expected in the domestic market, recent events have increased local confidence in the Turkish government after it demonstrated its ability to control the internal situation.

And the outlook for investment opportunities in the region, McLean said that along with the UAE see opportunities in the Saudi cities due to changes announced by the Crown Crown.

MCLEAN opportunities in Cairo as seen at least due to investments in historically attractive location within the African continent, it is also home to universities and students specialized, and therefore the ability to provide specialized manpower to meet the needs of African businesses.