Like if Gary Vee hedged a bet on digital, you’d follow… when American businessman and investor Warren Buffett expresses interest in Dubai, you can be sure many will follow.
Warren Buffett’s real estate firm Berkshire Hathaway, which in 2018 listed no.4 on Forbes Global 2000 which features the world’s largest publicly owned companies, is partnering up with locally based Gulf Properties and will soon launch an office to buy and sell properties in Dubai.
In a moment where property prices are in decline, this is a major vote of confidence from a sound property firm which has already seen success in the states, London, Berlin and Milan.
“Dubai is a destination of value… we’re here for the long-term”
Gulf Properties CEO Phil Sheridan told Bloomberg this is not a speculative move for the company, ‘it’s been in the pipeline for over a year, and the Dubai office will shortly be open. This is a strategic long-term vote of confidence… as Dubai is a destination of value”.
Sheridan called Dubai an amazing city,”a crossroads between north, south, east and west, with incredible thought leadership, free zones, tax free zones and there are many reason to believe Dubai will be on another level in ten years”. Hear, hear!
Thinking of buying?
Global property analysts state while the Dubai property prices will continue to decline in 2019 the market will begin in stabilize by 2020, according to Bloomberg.