Sherwoods chases GCC investors for Euro property projects

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Real estate firm Sherwoods said on Monday it will be showcasing a number of international projects in Dubai in a bid to target investors from the GCC and Middle East.

The Dubai-based company will be pushing projects in London and Geneva at the Cityscape exhibition which starts in Dubai on Tuesday.

The move comes as a recent Jones Lang LaSalle report showed Arab investors, led by GCC nationals, accounted for 15 percent of central London residential sales in 2012.

Sherwoods International Properties said it will be offering two prime central London properties - the 129-unit Westminster-located The Courthouse, and Providence Tower, situated in the financial heartland of Canary Wharf. It will also offer a duo of Swiss residential investments, close to the tourist attractions and commercial centre of Geneva.

“Traditionally luxury properties in Mayfair and Knightsbridge were favoured, but with average prices now well above AED9 million, many GCC investors are now putting return-on-investment ahead of trophy assets. They are actively looking for properties, some in regeneration areas, that offer great value, such as Canary Wharf, where average property prices start around AED3 million,” added Iseeb Rehman, CEO, Sherwoods.

“Both London and Switzerland, which is also a preferred investment location for Arab investors, offer a transparent and well-regulated real estate investment market with relatively little red tape involved, especially at HNWI investor level,” said Rehman.

Situated just a stone’s throw from Westminster Palace, The Courthouse offers prospective investors an opportunity to purchase real estate in London’s most privileged postcode.

The luxury new build project, which is due to be completed in second quarter 2014, will be home to 129 studios, one to three-bedroom apartments and five penthouses.

The 43-storey Skidmore, Owings & Merrill-designed Providence Tower project is tipped as one of the most exciting investment opportunities in Europe, and the building will be ready for occupancy in Q4 2015.

“London residential property has also become even more attractive in the last 12 months following the clarification of the tax position of overseas owners, with HNWI investors from the Middle East also able to make use of investor visas that come with residency upon purchases of a minimum of £1 million worth of gilts or shares and bonds in UK companies,” said Rehman.

The two Swiss investment projects are located in the countryside close to Geneva. Le Sequoia residence is a community of 15 two and three-storey apartment buildings plus two detached houses. Buyers will also have the opportunity to get information on Les Villas d’Hermance, a gated villa development with just 20 properties available for sale.

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