Tue, Sep 23, 2014
A A A
Welcome hendrik.absolut
RSS

Real Estate Briefing - Categorized | Market Moves, Middle East and Africa more

Dubai real estate is ‘dominated by cash buyers’

Posted on 15 February 2013

Dubai real estate agent Laura Adams won’t soon forget one Iranian home buyer. “He literally put a suitcase on my desk, opened it up, and it was full of 1,000-dirham notes,” says the Carlton Real Estate managing director. “I asked him to go across the road to Western Union (WU) and get it exchanged for a manager’s check, half a million dirhams ($136,000).”
It wasn’t the first cash-stuffed suitcase she’d seen. One customer told Adams he had the money with him because he’d just completed a diamond deal and didn’t want to stop by the bank, she says. A Russian buyer walked in with €250,000 in cash ($334,000) as the down payment on a two-bedroom apartment in the Burj Khalifa, the world’s tallest tower, and paid the rest with a single check………………………………………..Full Article: Source


 Article link

This post was written by:

Laxman - who has written 28515 posts on Opalesque Real Estate Briefing.


Contact the author

Comments are closed.

banner
September 2014
M T W T F S S
« May    
1234567
891011121314
15161718192021
22232425262728
2930