Deyaar plans to diversify its portfolio into low-cost housing and retirement villages, even as it reduces its overall holdings by half, its chief executive Mark Giebel says.

'One third of our portfolio will be low-cost housing in emerging countries, one third will be problem-solving real estate including retirement homes,' Mr Giebel said.

He said retired US and European citizens who had retired sought out sunny regions in which to spend the winter months.

The National