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London’s Royal Wharf project set for UAE debut

ABU DHABI, May 8, 2016

Leading commercial real estate services firm CBRE is set to showcase Mariner’s Quarter, a Dh7.8-billion ($2.12 billion) project by top London developers - Ballymore and Oxley - at a special event in Abu Dhabi, UAE.

Mariner’s Quarter, which will form the final phase of London’s prestigious Royal Wharf project, will be on display at Etihad Towers for the next three days starting from tomorrow (May 9).

This phase is set to have 207 homes in two distinct buildings with one-bedroom apartments priced at Dh2 million ($544,382); two-bedroom at Dh3 million ($816,573) and three-bedroom units at Dh4 million ($1.08 million).
 
“The 37-acre regeneration project offers further benefits as a recent CBRE research document shows that the average annual price growth in areas with regeneration projects is 4.7 per cent over and above local house price growth, this adds significant interest for any purchaser,” remarked Samuel Warren, the head of International Sales and Marketing at CBRE UK.

Located on the riverfront, Royal Wharf is influenced by the River Thames and the areas rich maritime heritage.

Residents will be able to step out of their apartments onto the 500m of riverfront promenade or the development’s own 2.4 acre park and into the two riverside parks which border the development – Thames Barrier Park and Lyle Park.

“Royal Wharf represents an outstanding investment opportunity in one of London’s major regeneration areas and this new phase offers UAE buyers a final opportunity to purchase in this highly sought after development,” stated Warren.

According to him, the residents of Mariner’s Quarter can benefit from the extensive open space and parkland at Royal Wharf, with 45 per cent of the development devoted to green space.

The 2.4-acre park forms the heart of the new neighbourhood and there will also be pocket parks, garden squares and tree lined avenues.

"UAE and GCC nationals have always shown a keen interest in London property; however the percentage of investors purely seeking a return from London real estate has surged significantly over the past two years. London provides the best opportunities in property investment opportunities," stated Faisal Khokhar, the Dubai-based UK sales director for CBRE.

"The capital city has a transparent legal system, low acquisition costs compared to other global cities, a good governance system and also a safe and tolerant multi-ethnic culture," observed Khokhar.

"Today, London attracts affluent international buyers as it remains globally one of the most vibrant real estate hubs. It definitely stands out as a global investment having  carved a niche for itself in the market, in terms of scaling, pricing and future growth prospects," he added.

When complete, Royal Wharf will create an entirely new community, with a network of interconnecting streets leading onto town squares and gardens, including Sovereign Place – the development’s Marylebone style high street and focal point.

Sovereign Place will provide independent cafes, shops, restaurants and bars for residents and locals alike. A deal has been signed to provide a 3,900 sq ft Sainsbury’s at the heart of this retail offering of recently.

According to him, the connectivity is also one of the major plus points for the Royal Wharf project. Mariner’s Quarter at Royal Wharf has outstanding transport connections to central London, whilst allowing residents to embrace village-style living.

Transport links from Pontoon Dock and West Silvertown on the DLR and Canning Town on the Jubilee Line will enable residents to reach the West End in 20 minutes, Canary Wharf in five minutes and London City Airport in two minutes, stated Khokhar.

"In 2018 a new Crossrail station at Custom House will mean that residents can reach Heathrow Airport in just 41 minutes and the West End in 15 minutes. In addition, the Emirates Air Line, London’s only cross-river cable car, is a short walk away," he added.-TradeArabia News Service




Tags: abu dhabi | London | debut | Royal Wharf |

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