The international property agency that has a branch in Dubai “Chestertons” mentioned that investors from Middle East and North Africa pumped about 256 million dirhams in London property market last year.
Real investments in UK’s property market represented around 70% of Chestertons’ total sales which reached 379 million dirhams.
Declan McNaughton, the managing director of Chestertons Mena, mentioned that investors have a large appetite for London property because it is well-regulated, mature, and has a solid track of capital appreciation.
Kuwaiti investors topped other GCC investors in respect of total sales in London with 21%, followed by Saudi Arabians who were accounted for 17%, Qataris with 10%, Emiratis with the same percentage, and Bahrainis with 7%.
Emiratis topped other nationalities in Chestertons’ breakdown of investors’ nationalities as they were accounted for 25 percent of investments. Indian and UK nationals contributed with 15 percent and 10 percent respectively.
Chestertons is now an international property agency that started off with a single office in Abu Dhabi in 2008, then added a network of locations including Dubai, Qatar, Riyadh, Jeddah, and Al Kohbar.
The company is even considering enlarging its business by adding one more office in Dubai and one in Ajman.