Thursday , January 24 2019

UK property developer’s new project attracts interest from GCC investors

Emirates Business

Select Property Group, the premium British property developer with its largest sales centre in Dubai, has announced the launch of its latest project in Manchester—the UK’s number one investment city. CitySuites 2 is already attracting significant interest across the GCC region and follows the success of the first CitySuites project that was sold in 2015, in which over 70 percent of properties were sold to investors in the GCC.
The first CitySuites property opened its doors in 2017 and has since established itself as Manchester’s finest serviced apartments. Now home to an array of high-profile VIP residents, CitySuites has the highest guest ratings on some of the UK’s largest travel websites.
Like the first CitySuites, CitySuites 2 will be fully managed by Select Property Group’s expert in-house team and guarantees investors a minimum 7 percent net for two years—making it an ideal choice for international investors.
“Our Manchester property portfolio continues to experience strong demand from GCC investors, with the realisation that investment returns in the city are much stronger and properties offer more value for money than in London. There is a particularly strong affiliation between Manchester and the UAE, with its
ties to Manchester City Football Club and Etihad Airways, and it’s great to see demand from investors here wanting a slice of the action in the UK’s top regional city for property investment,” said Adam Price, managing director of Select Property Group.
Both CitySuites properties occupy a prime city-centre location at Embankment West—a brand-new and exciting neighbourhood at the heart of the city, masterplanned by the same developer. CitySuites 2 comprises 148 studios, one and two-bedroom properties, combining luxury serviced apartments and premium residential suites.
Home to a growing number of international brands and businesses, including over 80 FTSE 100 companies, Manchester has one of the UK’s fastest growing economies. Offering a staggering 65 percent higher returns on investment than traditional UK property hotspot London, Manchester has mass appeal among investors seeking strong capital appreciation and high rental returns.

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