Dubai-Mubasher: Damac Properties confirmed the recent news that it is in negotiations to launch a new real estate project in London, according to a bourse statement on Monday.
“The company plans for expansion abroad,” the filing added.
The real estate developer is aiming to establish a joint venture with a local company to buy and develop a site with a mix of residential and commercial property, Financial Times quoted Damac's Chairman Hussain Sajwani as saying.
Damac is continuously holding discussions to identify direct development opportunities in the country and abroad, or indirectly via partnerships.
The company viewed at least 30 sites for the development, FT reported.
