Dubai firm eyes UK real estate acquisition

EXPANSION PLAN: Dubai-based Al Fara'a Properties is eyeing new acquisitions in Europe. (Getty Images)

Dubai's Al Fara'a Properties on Tuesday revealed they are in talks to buy a UK-based real estate/construction-related firm.

Speaking to Arabian Business on the sidelines of the Cityscape exhibition in Dubai, company director Natasha Gangaramani said: "Now is a good time to acquire assets or companies in Europe."

While she would not go into any more detail about the proposed acquisition, she did also reveal that the company is planning to launch a new fund next year with the aim of targeting further real estate and construction expansion, including opportunities in the US.

Al Fara’a Properties has used Cityscape 2008 to announce the launch of its two billion dirham Bellatora Residences at Dubai Maritime City.

A 42-storey tower, Bellatora Residences is fully responsive to achieve the status of a “Green Building” according to the US LEED standard rating.

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