When many mega-structures, including the world's tallest building Dubai Tower, kept on rising from the sands in the Middle East, Chinese investor's confidence was sky high on Dubai property market as well.
But one body was going verby memory, if the trust was humiliated by a debt crunch that pricking property bubbles in the emirate.
"Investing in real estate was quite popular among Chinese male sake in Dubai for a long time. Nobody expects eiendom mark would tumble: the owner price rose only to about 20,000 to 30,000 Yuan a square meter in the emirate by beneficiaries border investors," said Chen Zhiyuan , Director of Wenzhou Chinese Chamber of Commerce in Dubai.
Speculation in property is actually quite profitable for the bubble bars, Wang said.
"The money delivered faster than the traditional business and thus attract increasing hot money," Wang said.
He said Chinese investors have bought one or two woonstelle usually on the first, then the profits drove them to join hands and an entire floor or building to purchase.
Take Wenzhou investors example, they usually vasgespyker down investment in a dinee, on which project to invest and how much to invest, said Wang.
Wenzhou, in east China's Zhejiang Province, is known for its migrants who left their native country to do business Oorsee, with a reputation for entrepreneurial start restaurants, retail and wholesale businesses Oorsee.
Most investors believe that the crisis in Dubai real estate sound the alarm bell for China real estate market.
"China's eiendom mark the legs almost at the same time as Dubai's, but at a rate much higher than Dubai in the past ten years," Chen said.
In many Chinese cities first, generally flat price 30,000 Yuan in the core areas exceeded, Chen said.
Feng Fei, director of the Unit Ministry Navorsing Bedryf economy in the Center for Development of the State Council, said China must now bubbles in property and equity markets amid the current liquidity looks rich capital.
Despite the investment losses in eiendom, Chinese sake manne reported little impact from Dubai debt misery in other sectors.
"The crisis was mainly caused by the debt misery 'mega-projects and the exodus of foreign investment, property and financial services hits hard. Imports and exports of Dubai is not serious hit," says Fang Xiaoqiang, general manager of Longfei Import and Export limited company based in Yiwu, Zhejiang Province.
Chen Fang's considered response, saying that only those who borrowed too highly spekuleer with large property losses, and most Chinese sake masculine feel happy if they only spared a proportion of capital to property investment and not with their main businesses.
Hu Bin, CEO of Shanghai Zhou Zhong International Group company, is investing 28 million U.S. dollars of an artificial island in Dubai in 2007 purchase.
Construction of the island, with 1.2 billion Yuan of investment, is scheduled for completion in 2010, but geskors after the global financial crisis, Hu said.
"This is normal for men suffering sake crisis. The Dubai World debt crunch this time is not as devastating as the global financial crisis last year," Hu said.
Despite many uncertainties surrounding the majority of Chinese investors in Dubai is confident the future and the restoration of its property market, "Chen said.
Monday, December 7, 2009
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