The Gulf Time Newspaper One of the finest business newspapers in the UAE brought to you by our professional writers and editors.
Bloomberg
Dubai’s Damac Properties PJSC plans to take advantage of the weak pound to invest as much as 1 billion pounds ($1.3 billion) in London’s real estate market.
Chairman Hussain Sajwani said the Dubai-based property developer is looking at deals with values from 500 million pounds to 1 billion pounds in central London. Even if the UK left the European Union without a trade deal, which some analysts predict would result in sharp drops in the pound and asset values, Sajwani said he would still invest. Damac has more than $1.6 billion in cash, he added.