Gulf investment boom in UK property

Middle East investment in property in Europe, particularly within the UK, increased dramatically in 2001, indicative of a shift away from the US and towards shari`a-compliant funds in the UK. Saudi Arabia has shifted investment from the US as a result of a combination of factors, including a lawsuit brought by families of victims of September 11 against Saudi banks, the freezing of suspected bank accounts by the US government, corporate scandals, a weak dollar, and wariness over the Bush administration's Middle East policy.