Thursday, 29th November 2007 (2850 views)

Dubai's strength in the gold retail sector is enhancing its position in the overseas property market with British investors, it has been noted.

Senior business development manager for Barclays Buying Abroad Suzanne Clay said that the emirate is increasingly popular with UK buyers - with the precious metal a key reason for this.

Ms Clay said that initially the company wondered whether Dubai's popularity would be restricted to those "just looking for a piece of luxury".

However, she explained, it has subsequently emerged that the destination's attractions are more diverse - and are particularly popular with British Asians.

Such investors "buy property in Dubai because they love to go there on their way to see relatives – it's a great place as a stop-off and a popular place to buy gold," she explained.

Dubai - sometimes referred to as the City of Gold - is thought to have a population of about 1.62 million, with more than 82 per cent of this figure thought to represent expatriates.

 

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