The real estate sector in the Middle East is continuing to attract the attention of prospective investors, new research suggests. Despite a bleak global economic outlook, a study by online business intelligence platform Zawya found that real estate is one of the most popular projects being tracked by professionals.
Based on data analysed from thousands of members utilizing Zawya's Projects Monitor service in 2010, the most popular projects being tracked by professionals are in the oil and gas (30 per cent), real estate (19 per cent), power and water (18 per cent) and infrastructure (16 per cent) industry sectors.
In terms of specific projects, the most widely viewed developments in the region include a USD40 billion nuclear power plant, an airport expansion and a USD2.3 billion medical and research facility.
However, the body added that there still remain a number of barriers which are blocking a more widespread revival in the market. Transparency and the lack of up-to-date information are two of the most significant challenges faced in the construction sector, for example.