Dubai – MENA Herald: Gulf Islamic Investments (GII) is leading a development of premium residential apartments at a great location in Chelsea, London. The property was a former police station located in West Chelsea, south west London (SW3) within the highly desirable Royal Borough of Kensigton and Chelsea at the Southern end of Lucan Place with further frontages onto Petyward and Makins Street. The location has excellent transport connections. The immediate environment provides one of the capitals recognized retail and cultural hubs and is an internationally sought after affluent micro location benefiting from strong demand from both owner occupiers and investors.
GII is developing the project in coordination with its Dubai and London office and has put together a world class team of professionals to create a masterpiece. Renowned London developers, Northacre, have been roped in as a developer along with the highly reputed, Squire & Partners, who have been appointed as the architects for the project. The project is expected to have a mix of 1, 2 & 3 bed high-end luxurious residential apartments and penthouses of varying sizes built over a land area of 8,500 sqft. The apartments will be built to very high specifications reflecting modern architecture and sophisticated design along with world class amenities. The property was acquired late last year and the development work for the project has already commenced. The investment cost of this project reaches 100 million pounds and expected to take around 45 months for completion.
Mohammed Al-Hassan, Chief Executive Officer, Gulf Islamic Investments, commented:”this is our second foray in UK since the beginning of this year – 2016- and this deal is a part of our overall commitment of investing USD 1billion in real estate
globally, we still believe in British economy and its capabilities and potentials even after the Brexit, Signs show that investors are eager to continue snapping up U.K. residential and commercial properties, with the post-Brexit slide in the pound, The vote for the U.K. to leave the European Union has smashed the value of the pound lower against its rivals. And that is encouraging potential purchasers of luxury homes and commercial buildings in London
Pankaj Gupta, Co-founder and Co-CEO of Gulf Islamic Investments added: “the UK economy have performed better than expected in the months since the referendum, overseas investors — particularly from the Middle East and Asia — have identified a buying opportunity in London property, The volatile global financial markets is feeding to the need of safe tangible assets like Prime Central London Real Estate as London will always be a world city and a highly desirable place to live and work.