London property investment remains popular for GCCby Jumana Abdel-Razzaq on Feb 9, 2017
Investors from the Middle East and GCC regions continue to turn to international markets like Europe and the UK for business, mainly investing in hospitality assets, says a recent report by property broker CBRE.
The report said that about $5.2bn from Middle Eastern investors has found its way into hotel developments in the United Kingdom and mainland Europe.
London remains a popular property market for the region despite the feared repercussions of the Brexit vote last year.
In fact, London remains the world’s most popular destination for cross-border investment into real estate, surpassing its closest competitor, Manhattan, by approximately $12.53m in the previous year alone, a recent Savills report revealed.
The UK capital is currently the third-biggest residential property market for Middle Eastern wealth after Abu Dhabi and Dubai, according to Savills’ research.
Dawood Al Shezawi, CEO, Strategic Marketing & Exhibitions, organizers of the International Property Show: “These areas have seen an increase in returns in 2016 and it is expected that they will continue the positive momentum in 2017.
“In addition, these markets not only ensure lucrative returns, but also have very little risk of investment.”
The 13th edition of the International Property Show (IPS) which will be held from 2-4, April 2017, at the Dubai International Convention and Exhibition Centre, will offer investors the best in real estate and properties from the most in demand property markets in the world.