GCC investors eyeing up overseas properties
Best Choice Real Estate targeting international real estate sector
Investors from the GCC are becoming increasingly interested in purchasing high-value overseas properties, according to Riyadh-based Best Choice Real Estate Development.
The company is targeting the booming international real estate sector, particularly opportunities present in the Maldives, Turkey, Spain, Italy, and other key areas in Asia.
Best Choice will soon unveil some of its new partnerships, particularly in Turkey where numerous investors are planning on buying and investing in the country’s real estate sector - industry reports showed that property sales to buyers from over 80 countries doubled in Turkey in the first six months of 2013.
Mohamad Rabih Itani, CEO, Best Choice, said: “GCC investors are showing strong interest in purchasing high-value overseas properties especially in Europe. We attribute this to the region’s financial stability, strategic location, and young population.
“Property prices are also starting to go up in the European market, which further attract investors’ interest. We present numerous opportunities to those who have expressed willingness to buy property across prime markets.”
The company plans to exclusively represent major developers and properties around the world, particularly from the markets of Saudi Arabia, Italy, Spain and Turkey, in the near future. And a 5-star resort is currently in the works in the Maldives.
Its founders have a combined industry experience of more than 30 years in Saudi Arabia and across the Arabian Gulf.
Best Choice is developing $100mn Vadinolhu Island located in Laamu Atoll in the Maldives to be ready in 2017 as a premier resort. Aside from developing the isle as a tourist destination, the international developer plans to offer lucrative investment opportunities to investors.