Abu Dhabi-based property investment specialist MD Real Estate (MDRE) and Charles Russell LLP, a ‘top 50’ UK law firm, have agreed terms to bring together their real estate expertise and resources, creating a bespoke UAE investment vehicle which offers its clients a significant market advantage in today’s competitive climate.
Amanda Clarke, Director of Marketing and Business Development MDRE explains: “Unlike most traditional estate agents, the combined interests, experience and skills of both parties will create a unique service focused on our middle east clients planning to buy in London, responding professionally and discretely to their investment criteria. As we are not tied into any one UK estate agency, we retain both our independence and flexibility to consider a multitude of real estate opportunities on behalf of our clients.
Initially, our focus will be on Central London which is seen as a very attractive market for middle east investors, caused by both falling prices and the weakness of sterling. From our research we believe that properties currently for sale in Central London are 20% to 25% off their 2007 peak levels, providing discounts of 35% for Eurozone buyers and up to 50% for those buying in Dollar based currencies.”
Clarke adds “Through our exclusive relationship with Charles Russell we’re now able to source prime London properties before they even come onto the market and negotiate the best possible price. In essence, we have become a ‘one stop shop’ for people wanting to invest in the London property market.”
Richard Crosthwaite, Director of Property Acquisition at Charles Russell LLP, comments: “We are delighted to have formed an exclusive strategic alliance with MD Real Estate. This will give clients in Abu Dhabi privileged access to the London residential property market, via Charles Russell's Property Acquisition arm, as well as expert advice on the legal and practical aspects of buying property in London."