Tuesday, April 28, 2009

The Debts of the Lenders: Dubai Developments

Coming soon to NYC and London . . . if it hasn't happened already.

Dubai-based real estate firm, Deyaar Development will form a Dhs500 million ($137 million) fund to buy back distressed property sold to investors who can no longer pay for their purchases.

It further added that the fund will offer to buy up distressed properties from investors who have defaulted on their real-estate purchase agreements with Deyaar. However, instead of selling the property in current market conditions, the company will hold onto the units and offer them for rent, providing cash flow for the company.



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