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Arab domains: good investment?

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Gerrit

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With the Gulf nations' economy booming, the number of internet users growing and lot of Arabs speaking English well these days, I was wondering if there would be any value in domains from Saudi Arabia, Bahrain, Jordan, Qatar, UAE, ... ? Especially UAE, Bahrein, Qatar and S.Arabia are doing very well economically, but it seems many local sites prefer the local ccTLD rather than .com. So would there be an interesting market in the Middle Eastern domain extentions?

(PS: not sure about local presence required?)
 
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