Business news with words entrepreneur+iranian-born+property. 2 news.

VINCENT Tchenguiz, whose Consensus Business Group is the largest closely held owner of British residential real estate, said he'll start buying United States commercial property next year as credit market turmoil pushes down prices. Tchenguiz plans to invest as much as 200 million pounds (US$411 million) globally over the next three years buying commercial property assets, including shops, offices and possibly debt. "Some of the biggest opportunities will be in the US," the 51-year-old Iranian-born British entrepreneur told Bloomberg News. "A big amount of property is going to get reshuffled in the US." The shortage of liquidity in credit markets following the subprime mortgage crisis has pushed up the cost of borrowing, prompting a fall in commercial and residential property values and putting borrowers who need to refinance debt under pressure from their lenders. The opportunities that would present themselves in the US in the next few months are likely

Even for a multi-multi-millionaire, a £200m supermarket-shopping trip has to hurt. That's roughly the sum that Robert Tchenguiz, the colourful Iranian-born property entrepreneur, lost last week after watching the possible £10.6bn takeover of the Sainsbury supermarket chain collapse.