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Tue 28 May 2019 10:21 AM

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Video: Middle East investors put money in London's real estate, despite Brexit

Middle East Ultra High Net Worth investors (UHNWIs) poured $3.3bn into London's real estate market in 2018, according to a Knight Frank report.

Middle East investors continue to seek assets in London despite speculations continuing around a potential “Hard Brexit” or “no Brexit”.

This was evidenced in Knight Frank’s Wealth Report 2019 which found that UHNWIs from   strengthening dollar-pegged exchange rates against a weakening sterling.

In the Middle East, 74 percent of UHNWIs own a second home abroad, which is higher than any other region in the world.

55 percent of them are also looking to make foreign investments, with the UK real estate still the top choice.

The 11.4billion dollar Batter Power Station one of the world’s largest redevelopment projects and have sold in excess of 158.7million of residential property in the past year with British buyers and a significant proportion going to Gulf investors.

(Source: Arabianbusiness.com YouTube channel)