Blumberg Capital Partners was featured in an Arabian Business article titled "Gulf capital turns to US real estate, lured by distressed sales". An excerpt:
Arab investors that have historically favoured UK real estate are now looking to America, lured by tax cuts and low property prices, said Philip Blumberg, chairman of US-based investment management company Blumberg Capital Partners.
Property acquired by Middle East and African investors increased 140 percent between 2008/09 and 2009/10 from $1.1bn to $2.64bn, data from the National Association of Realtors showed.
"US tax policies are about tax cuts not tax increases so the US is emerging as a safe standard compared to Western Europe," Blumberg told Arabian Business.
To read the full article, click here.
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