U.K. commercial-property buyers with access to large amounts of capital are snapping up some spectacular bargains, as lenders and REITs feel the pain of falling rents and rising vacancy rates. Money is pouring into specialized funds and companies with appetites for top-quality properties on the market at distressed prices. So far, the buyers are being extremely selective, however.
Mall of the Emirates was the favorite retail center in the United Arab Emirates, a poll found. The center, which has 466 international brands and a ski slope, was followed by Deira City Centre and Dubai Festival City.
Grocery-anchored shopping centers are outperforming the general retail-property market, analysts say. Deals are more competitive, buyers are more able to secure financing, and pricing, though it has dropped somewhat, remains relatively stable.