Europe

Dubai woos UK investors

Opportunities for UK investors in Dubai will last for the next 12 months at least, according to local developer Nakheel.

Sanjay Manchanda, chief executive of the developer behind the Palm 360 and Deira Island developments, said that overseas investment into Dubai continues to be welcomed.

He said: “There is a very attractive business model here in Dubai. Everybody needs a diversified portfolio to mitigate risks. Then look at price per square foot.

“If you compare Dubai prices with those in Hong Kong and Singapore, New York and London, they are very competitive and much lower.

“Then of course investors want to know the return on their investment. And today the returns on real estate in Dubai are around 5-10%.”

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