Damac Properties (Dubai) looking to invest £1 billion in to London Property
As its prices tumble there is still interest in London property, who knows when the dip will end and the right time to dip your toe in to the water. So this has led to a £1 billion interest from investors abroad.
Recent news released on Business Times website says that Damac Properties are looking to take advantage of the weak sterling and invest £1 billion in to London’s property market – They are looking at deals with a value of over £500 million in the centre of the capital.
Chairman of Damac Properties Hussain Sajwani said: “If it were a hard Brexit, there will be more opportunities and we would be looking to take advantage of that… London is London and you buy when there is blood on the street.”
Real estate prices in Dubai have not been positive of recent with a drop of approximately 7% in 2018 overall.