More than 10 Middle Eastern sovereign wealth funds are running the rule over UK housebuilders, sources have confirmed, writes Tom Bill. They are understood to be bargain-hunting in a sector they believe has long-term value. The funds are thought to include the Qatar Investment Authority, Dubai-based Emaar and Dubai International Capital. One industry source said the fact they were eyeing up UK housebuilders marked a change of strategy: "Historically, their investments have been central London trophy-assets such as Chelsea Barracks, but moving into more run-of-the-mill areas like housebuilding would not be much of a stretch. "They know there is a long-term requirement for housing in the UK and that supply won't exceed demand any time soon."
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