Deyaar Plans To Acquire Assets In India And Turkey

Deyaar Real Estate has set up a division to acquire distressed assets in countries such as Turkey and India with the aim of expanding its land bank, its chief executive said on Thursday. The new department will look at buying distressed assets across the globe with India and Turkey being likely markets,” Markus Giebel was quoted as saying in a report. We intend to add land bank to our portfolio through this acquisition drive. Giebel could not immediately be reached to confirm the remarks. Giebel told reporters on Wednesday the Dubai real estate company had put all of its unsold projects on hold due to global financial turmoil, but still expected to post record profits in the fourth quarter.