(MENAFN) Middle East sovereign wealth funds (SWFs) paid out property investments reached USD5.84 billion in 2014, marking a 31 percent decline from the USD8.45 billion of 2013, Reuters reported.
The bulk of the sovereign wealth funds' investments were made by the loaded Gulf oil-exporting countries, and in 2014, the SWFs decided to slash their prospect investments by 30 percent.
The reduction in prospect investments came down due to the vast plunge of oil prices, which reduced the amount of money the Gulf governments had already allocated for the SWFs.
"This reflects more cautious behavior from natural resource-based SWFs in light of weaker oil pricing. The effect might be even stronger in 2015 and in the next couple of years after." CBRE said.
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