Dubai-based developer Emaar Properties is seeking investment opportunities in Europe and the US, where property prices have become 'attractive', according to a report on news agency Reuters. 'A property whose price was $100 in the US now costs $10 and we expect it to become $5,' Emaar Properties chairman Mohamed Alabbar said in a soon-to-be-published interview in Kuwait’s Al-Qabas newspaper made available to Reuters.
Dubai-based developer Emaar Properties is seeking investment opportunities in Europe and the US, where property prices have become 'attractive', according to a report on news agency Reuters. 'A property whose price was $100 in the US now costs $10 and we expect it to become $5,' Emaar Properties chairman Mohamed Alabbar said in a soon-to-be-published interview in Kuwait’s Al-Qabas newspaper made available to Reuters.
Within Europe, Emaar has had a presence in the UK since 2006, when it acquired realtor and property management consultant Hamptons International. In the US, it owns John Laing, a builder of private homes.
Alabbar did not provide specifics about which properties Emaar was eyeing.
Emaar is the largest Arab developer in terms of its $20bn market capitalisation.
