Damac properties (Damac) is planning to invest USD1.3bn (AED4.78bn) in London’s real estate market, the company’s chairman Hussain Sajwani said in an interview with CNBC, adding that he sees Brexit as a good opportunity for investment. The company is planning to deliver 8,000 housing units in 2019. "2018 has been a difficult year, prices have come down, sales have come down, and I think '19 and '20 are going to be also not easy years,” Sajwani stated. As for the company’s commitments, Sajwani asserted its ability to repay USD200mn in bonds due in April 2019.
DAMAC Properties (DU): AED1.19 as of 24 Jan. 2019, Rating: Neutral, TP: AED1.60/share, MCap: USD1,962mn, DAMAC UH/DAMAC.DU
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