GCC nationals pump £6 billion in Britain’s real estate
Real Capital Analytics’ data analysed by Savills Real Estate showed that GCC investors bought properties in Britain worth at least £5.9 billion during the first 11 months of 2015, compared to £4.8bn by the end of the same period in 2014.
Rasheed Hassan, director of Savills Cross Border Investment, said: “There is an increase in private wealth that flows from the Middle East, in addition to investments by institutions such as sovereign wealth funds.
“We are witnessing the enthusiasm of private investors in various parts of the region, who seek the conclusion of income-generating trades in London and various other areas in Britain,” he added.
Hassan explained that Britain has investment property that offers long-term safe rentals, which is not available in many parts of the world, and Germany is also considered suitable for investors from the Middle East.
Commercial real estate in Britain achieved average total revenue of 14.3 per cent on an annual basis in November, according to the IPD index.
(£1 = AED5.24, at the time of publishing)