These Middle Eastern Firms Like US Markets
Investment in the US from the Middle East is headed towards a record annual $20B as troubles at home have pushed Arab Gulf investors to US markets.
US firms noticed cash pouring in 18 months ago as a bullish US economy—plus conflict and low oil prices—sent Middle Eastern investors stateside. 90% of Middle East investment comes from the Gulf countries, Reuters reports.
One Gulf firm, Kuwait Real Estate Co, partnered with New York based Synapse Development Group for a project in Williamsburg, Brooklyn, and has further plans to buy $200M of US real estate.
Bahrain’s Investcorp, the largest private Gulf investor in US real estate, spent $400M on eight multifamily properties in October. [Reuters]