The UK is courting investment from the Middle East this week, as the country’s housing fundamentals stay strong in the face of Brexit uncertainty.
A government-led delegation of investors and developers will visit the event this week with the aim of wooing interest from the UAE. The two-day event takes place in Abu Dhabi on 25th April and Dubai on 26th April, with the delegation hoping to reinforce a relationship that already saw AED 15.1 billion ploughed into the UK from the Middle East in 2016.
Delegates, led by former Deputy Mayor of London and chair of the government’s Homes and Communities Agency Sir Edward Lister, will be showcasing not just residential property but also commercial property and infrastructure projects too. Indeed, while Middle Eastern investors have historically shown a fondness for London’s residential market, the Qatari government’s investment portfolio in the UK also supports infrastructure investment.
“The Emirates have always been strong investors in the UK, not just in London, but throughout the country and we have always welcomed that investment,” says Lister, who emphasises the market’s stable fundamentals.
“In spite of Brexit, the lying property dynamics in the UK remain unchanged. The demand for all types of property is absolutely enormous. The UK government target for housing is 250,000 homes a year, and in a good year we are only achieving 170,000 so the pressure is on for housing across the country and we need with that modern office accommodation as well as industrial and distribution warehousing.”
“In a country where property is so well protected by rule of law, the UK always makes a sound investment,” he adds.
The UK will also be looking to find out more about cutting edge construction methods employed by developers in the Middle East that may be useful for the UK.