Berkshire Hathaway Eyes Dubai's Distressed Real Estate Market
- Real estate brokerage arm is opening an office in Dubai
- S&P expects prices to fall as much as 10 percent this year
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Warren Buffett’s real estate brokerage sees value in Dubai’s flagging property market and wants to entice wealthy investors.
Real estate prices, which have been falling in Dubai since a recent peak in 2014, offer good value for investors looking to pick up distressed assets, Phil Sheridan, the chief executive officer of Berkshire Hathaway HomeServices Gulf Properties, said in a Bloomberg TV interview. “Many high-net worth investors are viewing the market as good value in terms of the declines over recent years.”