BLME launches property advisory service
London, June 26, 2012
Bank of London and The Middle East (BLME) has launched a property advisory service that offers private clients support and advice in sourcing and acquiring property either as an investment or a residence.
This is in response to an increased interest in prime London real estate, a statement from the bank said.
Nigel Denison, head of treasury and wealth management at BLME, said: “London remains one of the most desirable destinations in the world and we continue to see an increase in demand for high-quality prime residential real estate.”
One of the main reasons for this high demand is that London prime real estate has out-performed almost every other asset class over the last 40 years, the statement said. Knight Frank’s May Prime Central London Property Index notes that prices have risen 47.3 per cent since their post-credit-crunch low in March 2009 and rose 0.7 per cent in May alone.
“We and can advise clients on the best investment opportunities and help source property. BLME also offers support and advice through the legal and tax hurdles involved in the purchase of a property. We have helped clients find investment property, such as luxury flats or a main residence in one of the ‘Golden Postcodes’ of London. The service we offer is personalised and tailored for each individual client’s requirements and risk appetite,” Denison said.
To complement this service BLME funds property acquisitions and also has a property fund, the statement said.
BLME is one of the largest Islamic banks in Europe whose main shareholders are Boubyan Bank and the Kuwaiti Public Institution for Social Security. – TradeArabia News Service