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FINANCIAL NEWS
Dubai-based Iranian firms eye expansion after sanctions lift
06 Sep 2015
(MENAFN) Dubai-based Iranian businesses are looking for more office space in anticipation of the lifting of sanctions against Iran, real estate consultancy Cluttons has revealed.
The lifting of trade sanctions on Iran could boost the UAE’s economic activity with Iranian businesses in the emirate also approaching banks for loans to fund expansion plans.
It said that prior to the introduction of the sanctions, Iran was the UAE’s biggest trading partner, while in the past both local and global businesses hubbed any Iranian operations out of Dubai.
“Furthermore, we have also already noted several instances of Iranian businesses in the emirate approaching banks for loans to fund planned expansion,” chief executive of Cluttons Middle East said.
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