Change is 'good for Middle East investments'
The current climate of change in North Africa and the Middle East means they are good locations to invest, according to a financial expert.
Oliver Bell, head of emerging markets at Pictet Asset Management, told Business Intelligence Middle East that he was optimistic about the economic prospects for the region.
Speaking after launching a new fund that is to invest more than $1 billion in a range of countries, including the United Arab Emirates and Morocco, Mr Bell said that he thought the changing political picture in the region meant a good level of return would be available.
"The population of the region is about 300 million, 50% under the age of 25. That in itself is driving liberalisation and change because you have got governments needing to reform to provide jobs," he explained.
Mr Bell added that property and construction were likely to prove profitable sectors because of the continuing strong demand for housing in growing cities like Abu Dhabi.
His comments come after a report by the Abu Dhabi Chamber of Commerce and Industry predicted rents in the emirate would continue to grow, having risen by 25 per cent last year.
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