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Harrods to stock real estate opportunities
04 July 2008
Dubai Properties has announced that it is to offer real estate investment opportunities in the London department store Harrods.
The developer said that the promotion, which started at the beginning of July, is to run until September 6th and is the third occasion on which the firms have entered into a joint venture together.
Babil, Dubai Properties' latest residential development at the Culture Village in Dubai is included in the offer, said the firm.
Yaqoob Al Zarooni, deputy chief executive officer of Dubai Properties, said that British buyers now account for 12 per cent of international property investors in Dubai.
"The exclusive Harrods promotion represents a unique opportunity for UK-based investors to purchase residences in Dubai through our collaboration with Harrods Estates," he stated.
Last year the promotion helped the developer record over 150 million AED (£20 million) in sales.
Estimates from Dubai Land Department say that British investors own property worth over $1.3 billion (£0.65 billion) in Dubai.
Previously, the company announced that its properties were attracting high levels of interest at the Asian International Investment and Property Show (AIPS) in Seoul.
Source: Adfero
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