Business & Money | Monday 23 February, 2015 10:38 am |

Chestertons, the international property agency established in 1805, will be unveiling AED5.5 billion project by Berkley Homes called 250 City Road in Dubai for UAE Investors. This property is designed by Foster + Partners one of the most innovative and acclaimed architectural practices of the decade and delivers the optimum place to live and work. Priced from AED3.2 million for a studio apartment, and offering great value for money on a per sq foot basis, the project is situated in the heart of one of London’s most vibrant areas and very close to the City and the capital’s tech and creative quarters.
Chestertons will unveil more details on the project during an exhibition at the Jumeirah Emirates Towers on 19th, 20th and 21st of February.
“This is an attractive investment for investors as this landmark scheme lays the foundations for an enduring new community. Upon completion, the scheme will comprise 930 homes, expertly built by Berkeley Homes, a 190 bed four star hotel, office and retail space, all set amid the breath-taking architecture conceived to complement the existing surroundings. Over the years we have seen growing levels of interest from the UAE investors towards London based properties due to their long term and sustained capital growth prospects. We are bringing this prestigious 250 City Road project to Dubai in response to this overwhelming international investor interest. This project is undoubtedly a great investment opportunity for UAE investors,” said Samuel Warren, Global Director of International Residential Developments, Chesterton Humberts.
A recent Chestertons research report confirms that in addition to the critical shortage of homes in London there is an annual deficit of around 6,000 homes per annum. Since 2000 housing completions in London have been averaging just over 19,500 units per annum, whilst annual household growth is projected to be 25,400 per annum for the coming 30 years. Due to these reasons London property prices will inevitably come under long upward pressure.
“250 City Road will form the centre piece of this vibrant area, virtually unrivalled in terms of proximity to the capital’s most dynamic employment hubs and creative districts - and with the bonus of being located in one of the capital’s most established residential postcodes and a short distance from popular neighborhoods including Hoxton and Shoreditch. Providing all the conveniences of luxury living combined with impressive public realm and world class amenities, Berkeley Homes’ investment in the infrastructure will not only add to the area’s current offering but will help further establish City Road’s position as a residential destination,” said Piers Clanford, managing director at Berkeley Homes (North East London) Ltd.
Overlooking the City skyline, the development incorporates almost two acres of beautifully landscaped gardens and courtyards, all of which are fully Wi-Fi enabled. The intelligently devised studios, one, two and three-bedroom apartments and penthouses are arranged across eight buildings, including two landmark towers reaching up to 42 floors that meld effortlessly with the streetscape.
Located in Zone 1, residents at 250 City Road will be a short walk from some of London’s most buoyant employment markets including Silicon Roundabout and the Square Mile, as well as the fashionable neighbourhoods of Islington and Shoreditch. Those travelling by tube can reach King’s Cross St Pancras in 4 minutes, London Bridge in 5 minutes, Canary Wharf in 17 minutes and Bond Street in 29minutes. From 2018, Crossrail trains from neighbouring Farringdon will transport residents’ non-stop to Heathrow Airport in 32 minutes.
Berkeley Homes is working with a panel of expert interior designers; Darling Associates, Scott Brownrigg and Goddard Little fair; to create spacious and elegant apartments, with a selection of design palettes. As well as facilitating unparalleled views, the angled apartments have also been developed strategically to fill the interior living accommodation with natural light throughout the day. Each apartment will also feature balconies, terraces and/or winter gardens.
Chestertons aims to cater to UAE investors who wish to expand their local or international real estate portfolios, or both, and individuals who simply wish to buy first or second homes in UAE or abroad.