Ex tennis pro to buy Dubai property

Former tennis player David Lloyd is moving into the overseas property business, it has emerged.

Speaking to AplaceInTheSun.com, the health club owner revealed he is planning to invest in homes in a variety of locations around the world, including Dubai.

His new venture, which will be run in partnership with Greg Rusedski, will involve investment in a number of properties in the emirate, which will then be rented out on a time share agreement.

And Mr Lloyd dismissed claims that the current economic downturn makes it a bad time to be launching a property investment business, stating: "The low entry cost will appeal to a much wider audience."

Overseas property investors who have been thinking of making purchases in Dubai may wish to follow Mr Lloyd - who is investing £3 million of his own money into the project - into the market.

A recent Reuters report suggested property prices in Dubai are falling as many owners look to sell in the economic downturn.

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