Dubai-based real estate and construction companies are expanding their business interests to regional markets to channel their profits from the boom in the international markets including Saudi Arabia, Oman and China. Nakheel, Dubai's leading master real estate developer is focusing in China in particular as the Chinese market is growing due to upcoming global sporting event.
Chris O'Donnell, CEO, Nakheel, said, "Two areas that we are looking at entering are Eastern Europe and China. We are doing the preliminary investigation work on those two areas. We think they will be the growing economies over the next 10 or 15 years, so now is the time to get a foothold in those places".
Over the past year, Nakheel has accelerated its international expansion, gaining a presence in the UK, US, Australia and Singapore. This broadening on a global scale will help Dubai real estate developers protect their interest in case of recession in the regional construction market.
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