'Brexit is a BIG opportunity! Arab property tycoon DESTROYS 'Project Fear' in TV interview
THE CEO of property development giant Damac Properties said a post-Brexit London is looking "very interesting" for business.
Middle East property development boss: 'Brexit is an opportunity'
Hussain Ali Habib Sajwani, CEO of Damac Properties, said Brexit is making London looking "very interesting" for long-term investments in the UK.
In an interview with Bloomberg, the property development boss said: "London is very interesting.
"It has softened but it’s the right time to acquire lands now in London and make projects.
Damac Properties CEO said Brexit is a 'big opportunity' making London looking very interesting
"We already have one project and it’s doing very well. We sold out almost more than 50 per cent.
"So we’re looking at London as a future long-term market."
Mr Sajwani added that like London, Istanbul is also promising for the future of property development.
Barnier: No special access for UK financial services after Brexit
With Brexit I see an opportunity. A big opportunity.
Mr Sajwani explained how entering a market when it has softened is more advantageous than entering it at its peak, as assets are less expensive.
He said: "I see Istanbul as an interesting market, it has softened quite a lot in the last couple of years.
"With Brexit, I see an opportunity. A big opportunity."
Economic expert: City of London will 'FLOURISH' after Brexit
At the end of the first phase of the Brexit negotiations, EU Chief Negotiator Michel Barnier warned Prime Minister Theresa May the City of London would not receive a special treatment in the final deal.
Mr Barnier's comments sparked fears that the capital would lose access to financial services after the transitional period.
Mr Barnier has since retracted his statement and confirmed London is still in the run for a bespoke deal at the end of the Brexit negotiations.
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