In an interview with the Jordan News Agency, Petra, in June 2008, His Majesty King Abdullah said it all.
He remarked: "Some experts are saying that the speed of wealth creation in the Arab Gulf is unparalleled in human history. If we don't do our best to try to benefit from this extremely rare economic boom then we would have lost much and failed to exploit an opportunity to develop and modernize our country. No one knows how long this boom will last; some say three-five years, others say 10-20 years. All I know is that it would be wise to act as if the boom will end next week. If we don't attract Gulf investment others certainly will. No one is going to wait for us".
Experts say that an estimated $5 trillion to $9 trillion in cumulative GCC oil revenues generated over the coming decade will be invested within the Middle East and North Africa (MENA), experts say.
Long predicted that the oil boom will translate into an investable asset pool in excess of $10 trillion by 2020.
Despite a trend of diversification of investments, the real estate sector which, as it always has been, remain a strong attraction for investors, especially in the regional market, which is still promising, unlike the US and European markets, which are slowing down and
Due to high oil prices, these countries will continue to have a large surplus, which they have to invest somewhere, experts agree.
In Jordan, which has posed as a genuine attraction of Gulf money, real estate4 investments are estimated to increase to 20 billion dinars by 2013.
The growth in development of residential property has led to increased demand for office space and other commercial property. Real estate revenue is expected to account for 15 percent of Jordan's gross domestic product over the next five years, one report predicts.