Daman launches $13.6m ME art fund
United Arab Emirates: Wednesday, May 14 - 2008 at 09:23
Daman Investments, the Dubai-based broker and private equity company, has started a Dhs50m ($13.6m) fund to buy Middle Eastern art, reported Bloomberg. Prices for works by Arab and Iranian artists have been soaring, and auction houses including Christie's and Bonhams are expanding in the Middle East as oil earnings spur the region's economies and increase personal wealth.
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Jeff Florian, Senior ReporterWednesday, May 14 - 2008 at 09:23 UAE local time (GMT+4)
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