Dear friends and business partners,

Given our 10th anniversary, we are particularly pleased that the indicators of Q3 confirm a stabiliised and growing environment across most markets and continue the trend we have seen for the last three issues. Whilst the UAE is clearly doing well in the real estate markets, as are KSA, Qatar and Oman, we are very pleased to see the Bahrain market stabilising. Naturally the impact of Syrian situation continues to influence foreign investment. In terms of segments, the office sector still requires some caution and specific portions of residential development need a careful approach.

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