Saudi's Sidra inks deal for luxury London residential project

Financial services firm signs partnership with developer to build townhouses near famous Abbey Road
Saudi's Sidra inks deal for luxury London residential project
By Staff writer
Fri 26 Feb 2016 01:10 AM

Saudi-based Sidra Capital has announced a partnership with London's Dwyer Property for the development of Hamilton Drive, a luxury residential development project in the St John's Wood district of the capital city.

The financial services company that focuses on international investments said the project is being designed by Robert Adam, a world renowned leader in traditional and classical architecture.

Located in one of the most affluent parts of London, near to the iconic Abbey Road zebra crossing made famous by the Beatles, the 1.2 acre freehold site will comprise of ten new built luxury town houses as well as a villa.

"We see a consistent demand among Saudis and regional investors for various types of properties in London including high end residential products. GCC investors traditionally invest in more mature markets that can weather economic volatility," said Hani Baothman, vice chairman of Sidra Capital.

According to Savills, the contribution of Middle Eastern investors to London's super-prime (over £10 million) market is over 15 percent, only behind Russian and British buyers.

According to data from Savills World Research, the top property investment destination for Arab investors is London with 35 percent of all Arab institutional investments focused on the city over the last three years.

Baothman added: "It comes as no surprise that this is the fifth luxury real estate project rolled out by Sidra Capital and we have established a firm position as one of the leading advisors on UK luxury real estate. Projects such as Pink Mews, Aldwych Chambers, Chancery Lane and Greycoat are just few of the many real estate projects that Sidra Capital has been actively involved in the UK."

Established in 2009, Sidra Capital currently manages assets worth SR2.3 billion as of January 2016.

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