Palestinians plan to boost housing by investing in City hedge funds – Palestinian house builders on the West Bank could benefit from an influx of cash if plans by the $900m (£552m) Palestine sovereign wealth fund to invest in London-based hedge funds go ahead.

The Palestine Investment Fund (PIF) is considering switching investments into hedge funds as part of a move to expand international investments to make up 30% of its portfolio.

Social housing projects, already underway on the northern outskirts of Ramallah, will be expanded along with other projects on the West Bank if the investment grows as expected over the next few years, a spokesman for the fund said yesterday.

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