'Market booming on safe haven status'

28.08.2014
The UAE is seen as a very stable economy, well governed, well managed, and secure and we have attracted investments from Syria and Iraq because of it, said the CEO of Emirates NBD. Dubai's property market has flourished as a result of the safe haven status the country offers within the region, says the CEO of the emirate's biggest bank, Emirates NBD.
Speaking to Gulf Business, Shayne Nelson stressed that while conflicts across the Middle East should be resolved, they haven’t had a negative impact on countries such as the UAE.
“The UAE is seen as a very stable economy, well governed, well managed, and secure and we have attracted investments from Syria and Iraq because of it,” he said.
“Dubai and Abu Dhabi, as places of flight to safety, have done extremely well out of that conflict with people buying apartments and coming here as tourists rather than places they might otherwise have gone to.
“An unfortunate positive [of the conflict] is that the UAE as a safe haven will continue to attract investments while these conflicts are going on,” he added.
“Our outlook is strong for the rest of the year and very positive for 2015,” he added.

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