$163m London project targets UAE investors

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An artist's impression of Barratt London's Queensland Terrace project.

An artist's impression of Barratt London's Queensland Terrace project.

UAE investors are to be given the first opportunity to purchase property in a new luxury AED600m ($163m) London real estate project.

Property agency Chesterton said it will be launching Barratt London's Queensland Terrace project located opposite the Emirates Stadium in the Borough of Islington, North London prior to a global launch.

Investors in the UAE are being invited to a roadshow at Emirates Towers on June 21-22 to view the homes which start at AED1.7m.

The Queensland Terrace development offers 375 open plan suites, one, two and three-bedroom apartments and three bedroom penthouses.

Gary Patrick, regional sales director at Barratt Homes said: "Prime areas in London are set to grow at an average of 8 percent this year alone. This is being driven by strong international demand and short supply.

"This is a great investment opportunity for UAE investors who may also be football fans, as the property is very close to the prestigious Emirates Stadium."

Samuel Warren, head of International Residential Developments, Chesterton Humberts, added: "We have seen a growing interest from the UAE and across the Middle East region as investors become more familiar with London as a destination to invest in property.

"Attracted by currency gains, strong capital growth and a high demand for rental property, it isn't just a safe haven but a sound financial investment."

Residents will have access to a private residents-only fitness suite and 24 hour concierge and most apartments will have a balcony or terrace with views over London.

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