Staff Report
Dubai, UAE
Select Property, a UK-based property developer and investment partner, will launch a new residential development in Birmingham, the UK’s top city for rental yields and capital growth. This launch comes against the backdrop of lower interest rates and recent UK visa reforms for GCC nationals, both of which are driving renewed activity in the UK property market.
Earlier this year, the firm released the findings of a survey, which found that 73 percent of KSA investors have considered investing in the UK property landscape, of which, 75 percent were eyeing Birmingham or Manchester, and 65 percent viewed real estate as their preferred investment haven. The harmony between GCC investors and the UK real estate market is evident as market analysis estimates over Dh11 billion influx of investment in 2024, amongst other factors that are contributing to this forecast.
Adam Price, CEO of Select Property, said, “Birmingham, home to our latest development, a luxury residence for the UAE and GCC market, has become a key focus due to its high rental yields, promising infrastructure developments, and a robust student population. The city’s combination of luxury-branded residences, educational institutions, and thriving economic prospects mirrors the appeal seen in other key UK cities like Manchester. GCC investors, particularly from the UAE and Saudi Arabia, are leveraging their returns on local properties to invest in UK real estate, seeking the strength and stability the market offers.”
The new development will feature amenities spanning 14,000 square feet over five storeys. Notably, it will be the first residential development in Birmingham city centre to feature a swimming pool. Other amenities include a spa, a climbing wall, and a 45th-floor sky lounge.
To mark the launch, Select Property will host a VIP investor event for the residential development on October 10, 2024, offering attendees priority access to a pre-launch discount ahead of the global launch later in that month. This off-market opportunity allows investors to purchase at the lowest possible price with access to a development blending wellness and luxury. Participants will additionally gain exclusive early access to apartment selections and valuable insights into the UK property market, with Birmingham being spotlighted as the UK’s strongest investment city for rental yields and capital growth.
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Also read: GCC investment in UK’s luxury property reaches US$2.35 bn in two years
