Wednesday 25 January 2012

Sanctions spur surge of Iranians buying luxury homes in Dubai - The National

There has been a sharp rise in the number of wealthy Iranians buying luxury homes in Dubai recently as increasing international sanctions bite in their home country.

"We have probably done more deals with Iranian clients in the last six months than we've ever done," said Myles Bush, the managing director of Powerhouse Properties, which specialises in high-end homes.

His company has handled four sales to Iranians in Emirates Hill and two on Palm Jumeirah in recent weeks, he said.

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