"Afghan
buyers spent 220 million dirhams ($60.7 million) on property in Dubai in the
first six months of this year, a 27 percent increase compared with the same
period in 2011, according to Dubai government data obtained by Reuters. Some are
spending up to 20 million dirhams on shopping sprees for multiple villas, while
many buy million-dollar homes in cash, dealers
say. The growth outpaced
a 21 percent rise in total property transactions in Dubai by both local and
foreign investors in the same period. The interest was driven in part by a steep
decline in prices in the Emirate's once white-hot property
market. The figures will
make troubling reading for Western allies struggling to convince an uneasy
Afghan population the transition will not be a prelude to international
abandonment or an escalation in fighting with the
Taliban. Haji
Obaidullah Sader Khail, chairman of the Afghan-Dubai Business Council, said the
true scale of Afghan investment could be four times higher than the data
suggests because many transactions may not have been
registered." (thanks Dina)