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Developer offers Manchester property to Indian investors

02/05/2008

Dandara, a developer based on the Isle of Man, is offering real estate property in Manchester to Indian investors.

Upcoming properties include studio apartments and two and three-bedroom flats in the city centre.

An initial investment of ten to 20 per cent of the overall cost of the property would guarantee ownership, reports Mumbai news portal Sify.com.

Once the properties have been completed, Indian investors - who will first be screened by the company - will be required to pay mortgage rates of six per cent.

Dandara managing director Seamus Nugent said: "'The property market in UK is mature, regulated and secure with a lot of transparency and liquidity.

"The market has witnessed returns of eleven per cent per annum on average for the last 11 years.''

Dandara already has a large clientele in Singapore, Dubai, Hong Kong and the United Arab Emirates.

Manchester propertydevelopments include St George's Island in Castlefield and Spectrum on Blackfrairs Road in Salford.