$2.1bn luxury London project chases UAE investors

CBRE to host investors event in Abu Dhabi next week to sell apartments at Mariner's Quarter in Royal Wharf project
$2.1bn luxury London project chases UAE investors
By Staff writer
Sat 07 May 2016 09:41 AM

Mariner's Quarter, a prestigious AED7.8 billion ($2.12 billion) project by London developers Ballymore and Oxley will be unveiled to potential Abu Dhabi investors next week.

Real estate consultancy CBRE said it will share information of the final phase of the Royal Wharf development to would-be buyers at Etihad Towers in the UAE capital from May 9-11.

The phase is set to have 207 homes in two distinct buildings. One bedroom apartments are priced at AED2 million, two-bedroom apartments at AED3 million and a three-bedroom apartment can be bought for AED4 million, CBRE added.

The investor event comes as More than 61 percent of the UAE’s wealthiest individuals said in a recent survey that they expect to make overseas property investments this year, with London among the preferred locations.

Joint research by real estate consultancy Cluttons and YouGov found that investment appetite among UAE high net worth individuals (HNWIs) remains high despite global economic volatility over the past year.

Well over half said they would likely invest in their top target city during 2016 – the report showed that London, an established centre for Middle East real estate investment, ranked alongside New York as the top investment location outside the region. UAE

"Royal Wharf represents an outstanding investment opportunity in one of London's major regeneration areas and this new phase offers UAE buyers a final opportunity to purchase in this highly sought after development." said Samuel Warren, head of International Sales and Marketing, CBRE UK.

Located on the riverfront, Royal Wharf is influenced by the River Thames and the areas rich maritime heritage. Residents will be able to step out of their apartments onto the 500m of riverfront promenade or the development's own 2.4 acre park and into the two riverside parks which border the development - Thames Barrier Park and Lyle Park.

Faisal Khokhar, Dubai-based UK sales director for CBRE, added: "Today, London attracts affluent international buyers as it remains globally one of the most vibrant real estate hubs. UAE and GCC nationals have always shown a keen interest in London property; however the percentage of investors purely seeking a return from London real estate has surged significantly over the past two years."

When complete, Royal Wharf will create an entirely new community, with a network of interconnecting streets leading onto town squares and gardens, including Sovereign Place - the development's Marylebone style high street and focal point.

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