Thursday, November 28, 2002
10:08 pm
Will London be a target? - 28th November 2002, 22.08

Possibly not.

Alarmist suggestions in the Financial Times earlier this year that Saudi investors have been pulling their money out of the United States was massively overstated. But a lot of Arab money is flooding into the British property market. According to DTZ Research, Middle East investors poured $1.278 million into the European property market last year, with 91 percent of that investment going to the United Kingdom. But Arab investment in British commercial properties over the first 9 months of 2002 soared to $1.353 million, a 20 percent increase. Anecdotal evidence says the money flow has increased over the past six weeks. The recently filed trillion-dollar lawsuit in the United States against Saudi "funders of terrorism" is seen as a factor. The latest fuss over the charitable donations of the wife of Saudi Ambassador Prince Bandar is likely to increase the trend.

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