Sherwoods offers London, Swiss properties
Dubai, October 7, 2013
Dubai-based real estate property advisory and consultancy Sherwoods International Properties will showcase four international residential projects at this month’s Cityscape exhibition in Dubai.
Sherwoods will offer two prime central London properties: the 129-unit Westminster-located The Courthouse, and Providence Tower, situated in the financial heartland of Canary Wharf; plus a duo of Swiss residential investments, close to the tourist attractions and commercial centre of Geneva, said a statement.
According to real estate research and consultancy firm Jones Lang LaSalle, Arab investors accounted for 15 per cent of all central London residential sales in 2012, led by GCC investors.
“Traditionally luxury properties in Mayfair and Knightsbridge were favoured, but with average prices now well above Dh9 million, many GCC investors are now putting return-on-investment ahead of trophy assets. They are actively looking for properties, some in regeneration areas, that offer great value, such as Canary Wharf, where average property prices start around Dh3 million,” added Iseeb Rehman, CEO, Sherwoods.
Market performance over the last 30 years has seen London city centre prices rise by an average of 8.9 per cent per annum, as noted by Jones Lang LaSalle, which combined with a conservative estimate of 4 per cent per annum income return, offers total returns in excess of 12 per cent per annum, thus ensuring that the UK capital remains a prime investment destination, the statement said.
“Both London and Switzerland, which is also a preferred investment location for Arab investors, offer a transparent and well-regulated real estate investment market with relatively little red tape involved, especially at HNWI investor level,” said Rehman.
“Cityscape offers a great opportunity for us to showcase our property portfolio direct to an affluent audience. Investors come to us because we understand property markets on a global scale and have access to well researched and well planned, sound investment opportunities, in key property markets,” he added.
Cityscape, which opens a the Dubai World Trade Centre tomorrow (October 8) will run till October 10. – TradeArabia News Service