Tue, Mar 17, 2015

Real Estate & Property
Choice global homes to go on show in Bahrain

Cluttons is set to open a global real estate exhibition to Bahrain featuring choice homes in US, UK, UAE, Europe and South America, including some exclusive residences in an iconic New York tower.

The debut event, which opens tomorrow, will provide both investors and homebuyers with the chance to view a selection of investment opportunities, according to the international real estate consultancy. 

It will feature different types of properties from around the world that have been carefully selected by Cluttons to appeal to investors and homebuyers in the Middle East. 

They include apartments near Hyde Park in London; prime New York real estate, high yield apartments in fast growing Manchester, gated villas in Dubai and Sharjah’s first masterplanned development, luxury villas next to a championship golf course in Spain, luxury residences in Turkey, Brazil, and Miami, and citizenship by investment and visa free travel for purchases in St Kitts, West Indies. 

Visitors can pre-book appointments or attend the roadshow to speak with advisors from around the world. 

A Global Property Seminar for Capital Club members will kick-start the four day event tomorrow where Cluttons will discuss new research on the drivers of demand, and impact of global economics on property markets. 

The roadshow will then move to the InterContinental Regency hotel on March 19 and 20, before going on display at City Centre Bahrain on March 21.  

Joanna Leverett, Head of International Residential Markets at Cluttons, says: “Following the fluctuation in global real estate markets, there are now major opportunities for Middle East buyers to look at international diversification of their property portfolios.Over the past year, we’ve recorded strong Middle East investor interest in mature and stable markets as a safe haven for funds, while there is also significant interest in markets offering price growth opportunities, now that markets such as Dubai have stabilised. 

“Such purchases can offer good rental yields while also acting as an additional home for personal use. Markets such as London are relatively risk free and have a track record of providing strong capital value, while Manchester offers affordability with properties around $200,000 with high returns and yields of around 6 to 8 per cent.

“The benefits of investing internationally can vary from country to country but one area of interest to many Middle East buyers is citizenship by investment. Our event will feature Kittitian Hill in St Kitts for example, where the purchase of a property worth over $400,000 qualifies the investor and their family for citizenship of St Kitts. This enables visa free travel to over 120 countries around the world. 

“Rental yields on properties in St Kitts currently stand at approximately 4 per cent and it is certainly a destination that we believe Middle East investors would be very interested to find out more about.” 

The properties being showcased include exclusive residences such as the United Nations Plaza building in New York, US. 

This is the first residential tower in the US designed by world renowned Foster + Partners. The project is being developed by Zeckendorf Development with Global Holdings.

William Zeckendorf, co-Chairman of Zeckendorf Development, says: “We’re excited to bring our exclusive investment opportunity to Bahrain. With a location facing one of the most famous and important buildings in the world, 50 United Nations Plaza will attract considerable interest from buyers in the Middle East who recognise there is no other opportunity in New York City to own a home created by one of today’s great architects. The collaboration has set new standards for luxury living and creates one of the most memorable residential buildings in the world, which will fit securely and independently among New York’s iconic towers.”

Other properties that will be showcased include Macka Residences in Turkey’s capital Istanbul, which are managed by Kempinski and whose interiors are designed by Armani/Casa, The Residences at Mandarin Oriental in the Turkish city of Bodrum, the PGA Catalunya Resort, the Axis Tower in London, and Albury Park in Surrey, UK.

Harry Goodson-Wickes, who heads Cluttons in Bahrain, says: “With a presence in the Middle East for more than 40 years, we understand the requirements of investors and buyers in Bahrain and the wider region. For this event, we have put together a portfolio of international real estate that we believe will attract their interest. In the coming years, we expect an increase in the amount of transactions from Middle East investors in second homes and buy to let investments, and this event will be a platform for investors to explore a variety of options all under one roof.”

Cluttons is a global real estate services company, with a presence in over 50 countries.

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