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GCC investors are worried about Britain’s EU referendum

Saudi Arabia - June 6, 2016
EU referendum

Law and investment sources said that many GCC investors are reluctant to buy properties in UK fearing the price collapse that could happen if Britain pulled back from the European Union.

It’s worth mentioning that sovereign investors and private sector investors from Qatar, KSA, Kuwait, and UAE bought $10 billion assets in UK during the last 10 years most of them in London.

According to Knight Fran, the residential properties value in Chelsea, South Kingston, and Knightsbridge has declined by 3.5% to 7.5% year-on-year.

Amit Seth, head of international real estate projects at Chesterton’s said that UAE investors yield 20% of the buy-to-rent deals in Britain.

He added saying that many GCC investors are hesitant about investing in Britain these days preferring to wait until the referendum results are shown.  Many investors are discussing and studying investment opportunities without taking any actual decisions waiting for the referendum results.

 

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