The recent developments brought about by global economic downturn and weak US currency transformed the US real estate sector into a very attractive buy for investors in the Gulf, especially in Saudi Arabia, as the regional economy remains buoyant. This observation was reiterated on Saturday at the seminar held in Riyadh on the US real estate sector aimed at attracting Saudi buyers. Despite the prevailing economic slowdown, investing in the US real estate offers a lot of opportunities, notwithstanding affordable prices, due to its incredibly sound investment policies, delegates said. Against this backdrop, Robert Koch, founder and chairman of Fugleberg Koch Inc., a Winter Park, Florida, US-based real estate design, consulting, and development company, presented and discussed at the forum strong returns and reduced risks in US real estate investments even after correcting for the higher taxes, transaction costs and management fees. During the current economic crisis, the company has been providing support services to owners and creditors of real estate properties related to “work out”, liquidation, and new development options that respond intelligently to the market conditions and reasonable forecasts for future performance. According to the company, the US remains to be a good buy for basic reasons - the country's investment market remains “good” considering the growth potential, political stability, technological edge, tax and regulatory policies. Based on recent data, land, income property, and repositioned assets are the three preferred acquisitions in strategic markets in the US now. The underlying liquidity problem in the US at present prompted Fugleberg Koch to extend their professional services to foreign investors in facilitating the “acquisition of preferred properties at prices well below replacement costs” and to undertake “well-placed new project initiatives that are poised to take advantage of the real estate opportunities backed by credit unavailability.” Founded in 1963, the company has grown tremendously and completed over $12 billion in building volume. The volume includes over 250,000 multi-family dwelling units and 30,000 resort accommodations, as well as commercial, industrial, and institutional buildings with an aggregate area well in excess of 15 million square feet. The company's business acumen and professionalism paved the way for the creation of Group One Productions, an associate firm, to bring this global capacity to entertainment, hotel and resort, and residential development. Today, Group One provides market analysis, product and site selection, preliminary feasibility, real estate and financing services, appraising, business strategy, marketing services, and operations management services to its specialty clients in multi-housing and resort work. Another seminar on the benefits of investing in the US real estate sector is scheduled today (May 19) in Jeddah. __
