Damac Properties increases stake in international unit developing London Nine Elms

Damac Towers Nine Elms is a 50-storey tower being developed on London’s South Bank with one, two and three-bedroom units. (Supplied)

• The Dubai-based property developer would increase its ownership of Damac International to 45 percent from 20 percent

DUBAI: Damac Properties is increasing its stake in its international unit developing the flagship Nine Elms project in London.
The Dubai-based property developer would increase its ownership of Damac International to 45 percent from 20 percent, it said in a stock exchange statement on Monday.The international unit is also working on a project in the Maldives.
Damac Towers Nine Elms is a 50-storey tower being developed on London’s South Bank with one, two and three-bedroom units starting from about £929,000 ($1.3 million).
UK property prices rose in February ahead of the end of a stamp duty holiday this month., according to the Nationwide Building Society.
The UK Nationwide house price index rose 0.7 percent in February compared to the previous month.