source Bloomberg
DIFC Investments, a unit of Dubai International Financial Centre that owns stakes in firms including Deutsche Bank AG, said it will start a fund to invest in real estate in Dubai and the United Arab Emirates.
``The steady growth of the real-estate sector in recent years and the great future prospects provide us with an excellent opportunity to diversify our portfolio,'' Omar bin Suleiman, governor of the DIFC, said in an e-mailed statement received yesterday.
The Dubai state-owned Emirates Business 24/7 newspaper reported today that the DIFC real-estate fund will amount to ``multi-billions.
To contact the reporters on this story: Matthew Brown in Dubai at mbrown42@bloomberg.net
Tuesday, October 7, 2008
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