Leo Sterling (www.leosterling.com), UAE’s premier select property portfolio managers, has announced that it has prepared a new range of prime investment offerings in the London property market, particularly those catering to investors from the Middle East, as recent studies have shown that investor sentiment has improved significantly in key European markets such as London. Leo Sterling noted that analysts have predicted prime rents in the City of London to increase by 19 per cent in 2010 to £52.50 per square foot, up from £44 per square foot in 2009, and eventually reach £67 per square foot by 2014, representing an increase of 52 per cent over five years.
Leo Sterling also pointed out that London has ranked fourth among European markets for investments in existing properties and first for new acquisition opportunities, according to the Emerging Trends in Real Estate Europe 2010 published by the Urban Land Institute and PricewaterhouseCoopers. Leo Sterling revealed that it is now focusing its marketing campaign on institutional property funds, particularly Middle East sovereign wealth funds that are steadily investing in London's property market.
Laura Martorano, CEO and Founder of Leo Sterling, said: "While confidence levels are steadily increasing, investors continue to be mindful of their investment activities and prefer to avoid unnecessary risks. That is why property investments in Europe nowadays are primarily concentrated in more stable and familiar markets such as London. Based on our experience, institutional investors from the Middle East prefer to invest in London as they are better accustomed to the market and thus have greater confidence in its stability and ability to recover from the recession. As such, Leo Sterling is reinforcing our portfolio of prime property offerings in London as demand from Middle East clients, particularly sovereign wealth funds, has started to pick up this year."
Leo Sterling also echoed analysts' sentiments that business potential in London's property market is expected to receive a further boost through a surge in demand from specialist fund managers, following the recent recovery in financial markets. A projected supply crunch in 2011 will likewise open new opportunities for property developers and investors as only around 106,000 square feet of speculative space under construction is expected to be completed by next year.
Leo Sterling has recently established a new regional office in London as part of an ongoing expansion program that seeks to further strengthen its growing client base in the UK and Europe. The company is powered by a highly experienced, multilingual team of global experts and professionals.
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