Upper House, the world’s first collection of luxury apartments fully designed by the renowned Foster + Partners architects, is being unveiled to investors in Dubai this week.  

Situated in the heart of London’s global financial district, Upper House occupies the top 30 floors of the Principal Tower – London’s new residential landmark.

With London consistently featured among the most sought-after destinations for Middle East real estate investors, Principal Tower presents a unique opportunity in London’s latest property hotspot, said a statement from Foster + Partners.

Designed inside and out by the architects behind contemporary global landmarks such as Zayed National Museum in Abu Dhabi, The Gherkin in London and Beijing International Airport, prices are starting at Dh9.3 million ($2.53 million) for a two-bedroom apartment.

The Upper House is the second phase launch at Principal Tower, developed by Brookfield, Concord Pacific and W1 Developments in joint venture.

With spectacular views over the City of London, each luxurious apartment in Principal Tower benefits from the residents’ gym and spa, screening room, lap pool and 24-hour concierge, stated the top architects.

Sales of apartments in the City House collection were officially launched in September 2014, and sold out in less than two months, it stated.

Just 30 minutes away from London City Airport, the Principal Tower development features a stylish piazza, shops, offices, cafes and restaurants. With links to five major transport hubs - including London’s major Crossrail development - Upper House presents a sustained long-term capital growth opportunity, the statement added.

In addition to their global projects, architects Foster + Partners have delivered a number of landmarks in the UAE and the wider Middle East including: Al Faisaliah Complex in Saudi Arabia and Queen Alia International Airport in Jordan.
 
“Over the years, London’s stable real estate market has become a safe haven for Middle East investors, and the city remains the principal target for regional capital,” said Tim Wright, the director (Residential) at JLL, the selling agents for Principal Tower.

“In addition to that, we have witnessed increasing interest from Middle East investors outside the traditional ‘golden postcodes’ of Belgravia, Knightsbridge, and Chelsea, in areas of ‘New London’ such as The City and Shoreditch. This interest is driven by a desire to spot new growth areas and benefit from higher returns,” he added.

Terry Hui, the president and CEO, Concord Pacific, said: "The Upper House at Principal Tower offers the chance to buy an architectural gem with true rarity value, designed inside and out by Foster + Partners in the heart of London’s global business district.

"This is an exceptional opportunity to buy into an iconic landmark building with outstanding cachet and excellent investment potential," he noted.

Christopher Murray, the managing director, W1 Developments, said: "We are creating a new district: a buzzy, vibrant place where people will want to both work and live. On the doorstep of both the City and Shoreditch, Principal Tower sits within the wider Principal Place development which includes state of the art offices, shops, restaurants, apartments and a beautifully landscaped half-acre piazza."

"Uniquely, the entire development is being built at the same time. When it is finished, homeowners can expect that all the offices, shops and restaurants are open," he added.-TradeArabia News Service