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| Adam Price |
Riyadh, KSA – 25 April 2024: Select Property, a leading UK-based property developer and investment partner, cites that Europe will see a 20% rebound in real estate investment activity this year. The UK is poised to spearhead this growth, attracting global investors from America, Japan, and Taiwan. Adam Price, CEO of Select Property’s CEO, highlights that investors from the GCC region will significantly contribute to this resurgence.
Compared to 2023, Middle Eastern investors are expected to boost their investment in the UK’s real estate market by 36.17% in 2024. Adam Price 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.”
GCC to contribute to Europe’s expected 20% rebound in real estate investment activity in 2024
For investors from the GCC seeking secure and predictable opportunities, London has long been the UK’s starring attraction. However, an oversaturated market has formed on the heels of the consistently growing popularity of the UK’s capital city. As a result, Select Property has observed an uptick in interest in emerging areas like Sheffield; the second fastest-growing city economy. With this city predicted to see a 20% increase in value over the next five years, GCC investors are turning their attention to up-and-coming areas that offer similar ROI. Similarly, Birmingham has also been a particular area of interest for investors with its annual rental growth being 17% and the highest in England, as per JLL’s Big Six Report.
Adam Price added: “As per Frank Knight data, the KSA is set to see high-net-worth individuals (HNWIs) invest approximately $2 billion into Saudi Arabia’s real estate sector; with HNWIs having additional wealth to work with, compared to the large majority of the population, such individuals are looking to the UK to satiate their desire of portfolio diversification. The city’s strong economic fundamentals and stable legal frameworks enable them to explore various property types, including branded residences which are seeing an uptick in interest.”
Since 2004, Select Property has been developing world-class branded residences in some of the UK’s most desirable cities, including Manchester and Birmingham, with Affinity Living, CitySuites, and The Prestige Collection being among the famed brands delivered to its global clients. While Saudi citizens have long looked to the UK as a desirable market for secondary investment, Select Property has observed an uptick in interest recently; specifically as it relates to investment in luxury branded residences. The company also currently witnessing increased interest from GCC investors in emerging markets such as Sheffield, with Velocity Tower being a notable project in this area.
Select Property is an award-winning, leading developer and investment partner, with a strong focus on consultation and service that delivers exceptional residential real estate properties. As an end-to-end service provider, they develop, sell, and manage UK property investments to support global investors throughout the journey. Through their in-house team of experts and almost 20 years of reliable, trusted experience, they create bespoke approaches for clients that incentivise recurring annual investment.