Business & Money | Monday 18 May, 2015 2:47 pm |

GRE Assets, a leading investment and asset management company specialising in UK real estate, today announced that 95% of purchasers at its Brighton Marina development to date are from Saudi Arabia, further underscoring the growing interest among Saudi investors to tap into the UK’s booming property market, which is emerging as a lucrative option for long-term property investment for investors from the Gulf region.

A £500 million project offering investors premium properties in a prime location, Brighton Marina is the largest marina in Europe and the only off-plan international project that is licensed by the Ministry of Commerce and Industry to be promoted in the kingdom. Spanning an area of 126 acres with 1,600 berths, the mega project was opened by Queen Elizabeth II in 1979.

“Over the past many months, we have seen strong interest in the Brighton Marina project from investors in Saudi Arabia who are attracted by the unique nature of the project and the unparalleled value creation opportunity it offers,” said Michael El-Kassir, General Manager - International, GRE Assets. “Investors waiting until after the outcome of the General Election in the UK will be pleased to see the Conservative Party return to power for the next five years. With a stable, reform-minded government now at the helm of affairs, the property market in the UK is set to receive a further boost with house prices expected to perform strongly over the next few years.”
He added, “While London remains a strong draw, savvy investors are increasingly looking to locations that are outside of the capital but still within easy reach, such as Brighton, for better returns and future capital growth.”

Property prices in Brighton are projected to increase by 41% by 2019, according to a joint study conducted by Rightmove and Oxford Economics. Further, an HSBC report published last year lists Brighton among the top two cities in the UK with the fastest growing rental yield for investors – all of which point to the unmatched value proposition the Brighton Marina project offers aspiring home-owners.

“People are attracted to Brighton due to its proximity to London, exceptional quality of life and record public and private investment in the city, including a new European HQ for American Express, a £540 million seafront events venue and the £200 million Circus Street regeneration scheme,” said El-Kassir.

GRE Assets, with an investor base of over 2,000, is the only company in KSA to provide investors with turnkey services from acquisition to management to exit, including opening of bank accounts, tax structuring, setting up of off-shore companies, legal services, property management, evaluation of the investment portfolio on an annual basis, and more.

GRE Assets has been operating in KSA since 2006 with offices in Riyadh and Jeddah; the company opened a third office in the region in Dubai in October 2014.