Staff Report,
Dubai, UAE
Middle Eastern investors are set to increase investment in UK real estate by 36 percent this year, contributing to a 20 percent rebound in real estate investment activity in Europe. According to Select Property, a UK-based property developer and investment partner, GCC investors will play a significant role in bolstering the UK’s position as a global investment landscape. As per earlier reports, they are predicted to invest US$3.2 billion (Dh11.75 billion) into UK real estate in 2024.
Adam Price, CEO of Select Property’s CEO, said, “As a world-class investment destination with unparalleled advantages, the UK, and its property market, attracts savvy GCC investors as a proven method of diversification; the UK’s long-standing tradition of property rights protection, robust legal system, high-level of security, political stability, and mature regulatory environment enable maximum ROI on long-term investments with mitigated risk.”
London has been a property hot-spot for GCC buyers, leading to an oversaturated market that has driven interest in emerging areas like Sheffield, the second fastest-growing city economy. While Sheffield is forecasted to see a 20 percent increase in value over the next five years, Birmingham has attracted potential buyers with annual rental growth being 17 percent and the highest in England, according to Jones Lang Laselle’s (JLL) Big Six Report.
Ends
Also read: GCC investment in UK’s luxury property reaches US$2.35 bn in two years
