By Staff writer
Abu Dhabi Financial Group's London development arm set to complete Westminster project in 2021
London-based ultra-prime developer Northacre has appointed JLL as the Middle East agent for their latest scheme, The Broadway.
Northcare, a developer 70 percent owned by Abu Dhabi Financial Group, is set to complete the 1.72 acre residential and commercial development in Westminster by 2021.
The Broadway, located at the former New Scotland Yard headquarters in London, spans more than 1 million sq ft.
The London luxury real estate market continues to attract significant Middle East investment, according to JLL. Nearly half a billion pounds ($600m) was invested into London from the region in 2016. JLL MENA said it expects to continue to see strong demand from Middle East buyers for prime London properties.
“We are looking forward to marketing one of the most exciting and significant new schemes set to launch in London in recent years," said Andrew Frost, head of residential, EMEA at JLL.
"Buyers are always seeking the best and most fashionable addresses and Westminster is currently re-defining the residential preferences of London buyers. We predict strong price growth of 15% in this borough between 2017 and 2021, supported by landmark schemes such as The Broadway.”