Dubai-based property developer Damac plans to buy London office space for the first time in a bet the struggling market will bounce back.
The luxury group, known for developing Donald Trump’s golf course in Dubai, aims to snap up the offices at bargain prices and turn them into plush places to work that meet ESG standards.
“London is still a cosmopolitan city,” Damac chair Hussain Sajwani told the Financial Times. “Demand is there if you find the right asset, the right price, fix it, change the tenant mix, make it more friendly environmentally and push it to a higher end.”