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Mon 14 Mar 2016 08:41 AM

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GCC investors targeted for new luxury London real estate project

Dubai, Doha sales events planned for Chelsea Waterfront as London property sales to Gulf buyers increase over past year

GCC investors targeted for new luxury London real estate project

The selling agent behind Chelsea Waterfront, London’s luxury new riverfront development, is targeting Gulf investors following a rise in sales to Middle East buyers of real estate in the English capital city over the past year.

The project set in the heart of the Royal Borough of Kensington and Chelsea is due for release to investors from Dubai on March 15-16 and Doha on March 30-31 by global property consultancy, Knight Frank.

Victoria Garrett, head of Knight Frank International London Sales in the Middle East, said: “Over the past year we have seen a significant increase of London new home sales from the Middle East, whether for investment purposes or for end-use.

"This exclusive second phase release is expected to attract significant interest in the Middle East following a successful first release in 2015 when investors from the region accounted for more than 50 per cent of sales.”

Middle East investors pumped $11.5 billion into direct real estate globally during the first half of 2015, according to property advisor CBRE Group which said London was the main beneficiary of investment, receiving $2.8 billion and representing 24 percent of Middle Eastern outbound capital.

Qatar remained the largest source of outbound capital from the region, investing a total of $9.834 billion, the research showed.

Set within nine acres of its own exclusive grounds, the Chelsea Waterfront development is the last remaining significant river fronting site on the north bank of the Thames between Chelsea and the City.

The majority of the large, family-sized apartments overlook the River Thames with wide reaching views taking in a stretch of the river that extends from Chelsea in the West to Canary Wharf in the East.

Next door is the fashionable Chelsea Harbour – home to the Design Centre, a five star luxury hotel, and the super yachts of the Chelsea Marina.

Commenting on Chelsea Waterfront, Edmond Ho, executive director and general manager of Hutchison Property Group said: “We are delighted to bring this second phase of apartments to market after the success of the first launch which showed, notably, that Chelsea Waterfront is popular with investors from the Middle East.

"We believe the popularity of the development in the Middle East is a reflection on the size of the apartments, exceptional facilities and a stunning location and I anticipate the second release will be equally popular. Nothing of this quality is available anywhere else on the market.”

The apartments in the second phase are due for completion at the end of 2016 while the entire development is due to complete in 2019 providing 706 new homes.

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