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UAE impressed by interest of Russian investors in its economy — expert

Mohammed Abdelrazik pointed at a significant increase in the number of real estate transactions over the past couple of years

ABU DHABI, December 29. /TASS/. Russians are investing in various sectors of the economy of the United Arab Emirates (UAE), in particular in real estate construction, and local business is impressed by such interest, Mohammed Abdelrazik, director of asset management at the innovative city of Masdar City, told TASS.

"Russians’ investments in the UAE economy concern a number of industries, including real estate. But it can hardly be said that this interest lies only in the purchase of expensive real estate, such as villas. They are interested in development, creation of office buildings, hotels, and we are impressed by this desire of the Russians to take part in the development of the UAE economy. They enter our market, also use environmentally friendly technologies and are ready to share their experience with us. This makes us happy," he said during a visit of Russian media to Masdar, sponsored by the UAE Embassy.

Abdelrazik pointed at a significant increase in the number of real estate transactions over the past couple of years and according to him, this happened thanks to the Russian business. He also noted that the Russian business is interested in developing zero-emission construction.

"Previously, the UAE authorities called on developers working in the country to focus on environmentally friendly technologies when constructing buildings, but after some time there was simply no need to stimulate the companies. It turned out that "green" buildings are more profitable," he concluded.

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United Arab Emirates

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