• Register
select-property

Select Property launches new British investment product to GCC market

: Monday, May 26 - 2014 @ 16:33

Specialist investment company Select Property is officially launching a luxury British student residential product to investors in the GCC region.

The company, which has a major sales division in Dubai, has experienced significant demand for student property over the last two years from savvy GCC investors who have actively sought-out the products. This has prompted the company to establish a dedicated sales operation in Dubai specifically to help buyers from the region take advantage of this sector which is the UK’s top performing asset class.

Investment opportunities in the UK student housing sector have become increasingly popular due to growing student demand and the country’s stable property market. According to global property consultancy Knight Frank, total returns from the sector have outperformed all other British property assets since 2011. Select Property is the only UK company to be investing significant time and money to deliver these products to the GCC region.

The product available to buy exclusively from Select Property is the 8th development from Vita Student, which has brought 1,480 studio apartments to the UK market in the last two years and has a development portfolio worth more than Dhs863m (£139m). Vita Student is internationally renowned for delivering the finest student residences on the UK market and 20% of all Vita Student sales have been to the Middle East which demonstrates how appealing the products are among local investors.

The most recent development is in Sheffield – a popular university city in the north of the UK where there are over 63,000 students. Apartments can be purchased from as little as Dhs509,000 (£82,000) and investors are given an assured net yield of 35% over five years. On top of this the apartments are also expected to generate 6%-7% capital growth every year. This means that from a typical investment of Dhs509,000 (£82,000) investors can expect to make upto Dhs364,000 (£59,000) in the first five years of owning the property which represents a return on investment of 71.6%.

The scheme is fully-managed by Vita Student Management which sources the tenants and deals with any enquiries during their residency allowing investors from the GCC to sit back and relax without having to visit the UK at all.

Adam Price, Managing Director of Select Property Middle East, said: “Select Property has been working in Dubai for the past decade so we have established strong relationships with local investors and have become a well-known and trusted investment property provider.

“We have also developed an in-depth understanding of the investment market and what buyers look for in a new product which is why we know that the Vita Student product will be very popular.

“The amount of proactive enquiries we have previously received from the GCC region demonstrates how knowledgeable investors are here and our new sales division is expertly placed to be able to help even more local buyers take advantage of the British student property trend.”

One investor who has previously purchased a Vita Student property is Alya Ahmed Sulaiman from Oman. She commented: “My husband and I had studied the UK market for years and regularly visited for holidays but, for all our searching, we hadn’t found a buy-to-let property that delivered on all our criteria.

“I contacted Select Property to see what guidance they could give us as specialists in international property. Our advisor, Andy, had a fantastic knowledge of the market and recommended that we take a closer look at the student accommodation sector in the UK which was experiencing huge growth. The more we examined the market and the luxury proposition offered by Select’s partner Vita Student, the more convinced we became that this investment was for us.”

Alya went on to buy six bespoke Vita Student studio apartments across the UK and once these developments are complete she is guaranteed to start earning between a 7% and 9% rental yield for each unit.

Today's Top Stories

Posted by

Monday, May 26- 2014 @ 16:33 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

AME Info Services





Business DirectoryVIEW ALL

Search by name

Search by industry

Browse alphabetically



JobsVIEW ALL

Search for jobs

Latest Jobs