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Sat 18 Jan 2020 12:54 AM

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Brexit certainty to drive GCC appetite for UK property, says new Savills boss

Savills announces appointment of Stan Ennor-Glynn as head of international residential sales Middle East in Dubai

Brexit certainty to drive GCC appetite for UK property, says new Savills boss

Stan Ennor-Glynn is head of international residential sales Middle East in Dubai.

Savills, the Middle East real estate services provider, has announced the appointment of Stan Ennor-Glynn as head of international residential sales Middle East in Dubai.

With 15 years’ of experience within the prime central London, wider UK and European residential property markets, he will lead the growing international residential division at Savills across the MENA region.

Previously director of MENA region at JLL, Ennor-Glynn said: “This new role at Savills is an important step in my MENA journey... Savills has an unparalleled portfolio of properties to offer clients and cater to their needs. I have built a strong experience over the past two decades will complement the existing International team, which already has a vast global office network.”

He said that with more certainty offered with the Conservative party majority and Brexit finally getting closer to a conclusion, the appetite from GCC investors is expected to increase in 2020.

He said that London will remain a key economic and cultural centre and will continue to be the preferred global destination for residential investment this year.

He added: “London has a rich history as a stable long-term destination with solid growth due to the lack of supply, which still makes it an ideal investment for wealth preservation. However, there are other regional UK cities such as Birmingham and Manchester that can offer good yields at affordable buy in prices, with a compelling story surrounding future major infrastructure projects such as HS2, which will increase connectivity across the UK.”

According to Savills, other top global investment destinations for residential include Germany and Portugal. As for Portugal, Lisbon is predicted to have one of the highest capital growths in 2020 with a combination of low interest rates, increased demand and the potential positive impact of the Golden Visa Program.

Steven Morgan, CEO of Savills Middle East said: “Our recent research showed that global investment in residential increased by 9 percent in the first half of 2019, at a time when investment into all other major asset classes declined.

"Following a period of economic and political uncertainty, we expect GCC investors to increase in 2020 as more certainty is offered, especially in the UK where a lot of pent up GCC capital is waiting to be deployed.

“In light of this positive development, we proudly welcome the strategic appointment of Stan to our fast-growing Savills family in the region. His extensive experience will support the growth of our international residential team as we continue growing from strength to strength.”

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