Chestertons, a leading international property agency, said it had received an overwhelming response from investors in Abu Dhabi, UAE, for its Dh8.8 billion ($2.4 billion) Royal Wharf project.

The company had showcased the UK project, comprising a series of luxury mixed-use developments by leading players Oxley and Ballymore at a recent exhibition in Abu Dhabi, UAE.

Royal Wharf is located close to the Emirates Air Line, London’s only cross-river cable car. It is one of the best connected places in London with excellent transport links from Pontoon Dock DLR station and Canning Town on the Jubilee Line,  providing access to the West End in 20 minutes, Canary Wharf in five minutes and London City Airport in four minutes.

In 2018 a new Crossrail station at Custom House will mean that residents can reach Heathrow Airport in just 41 minutes, said the property expert.

"We were delighted to witness a tremendous response from Abu Dhabi investors during the launch of the project. The UAE is one of our strongest global markets. Investors here understand the strong capital returns from the London real estate marketplace," remarked Samuel Warren, the director of International Residential Developments, Chesterton Humberts.

According to him, Royal Wharf will be creating a new town centre complete with 3,385 new riverside properties, providing homes for approximately 10,000 residents in London. The prices for these properties start from Dh1.6 million ($435 million).

"The city offers a good choice of both investment and lifestyle options thereby making it an attractive choice of location to purchase a home. London is a nearby destination, compared to other global cities, that has a tolerant society and an interesting and exciting city to visit," stated Warren.

With nearly 3,500 new homes, Royal Wharf is the largest development in London to come forward since the launch of Battersea Power Station and unlike some developments in the capital, provides achievable housing options for Londoners.

"London, unlike any other property market is a key hub for international property investors. It is a versatile global capital as it offers the best prospects for the investors in terms future growth," he added.

The ‘Royal Wharf’ project will include two new parks and three pocket parks, a high street with nearly 5,000 sq m of shops, bars and restaurants and significant new community infrastructure including a school, said the statement from Chesterton.

The first residents will begin to move into Royal Wharf in mid-2016, just two years after work commenced and in an unprecedented pace of development for London, the whole development will be completed by 2020, said Warren.

"When complete, Royal Wharf will offer 45 per cent outside space, including leafy squares, a riverfront promenade and a bustling Marylebone style high street with an impressive retail selection, creating a complete neighbourhood lifestyle for residents," he added.-TradeArabia News Service