Monday, 18 January 2010

Chinese hunt for bargains in Dubai

Chinese investors, who have trawled the world for distressed car brands and cheap commodity assets since the beginning of the global financial crisis, will now take a shopping trip to Dubai to look for property bargains.

Investors from Wenzhou, known for their global bargain-hunting for distressed property assets, have been lured to Dubai by prices that look cheap by comparison with the rapidly rising Chinese property market.

A trip to the UK in the second half of the year may also be on the cards for the merchants of Wenzhou, famed as a city of millionaire entrepreneurs.

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