– Select Property‘s latest Manchester development sees over 30% of buyers from the KSA
– Over 15,000 UK and international properties sold to date
Riyadh, KSA; 7 September 2023-As a prominent UK-based property developer and investment collaborator, Select Property is preparing to participate in this year’s Cityscape Global event. Since 2004, they have achieved remarkable success by selling over 15,000 properties worldwide, generating an impressive rental revenue of SAR 13.3 billion, and fostering a vibrant global investor community consisting of over 100,000 individuals. As a part of Cityscape this year, Select Property is enthusiastic about creating opportunities for citizens and residents of the Kingdom of Saudi Arabia (KSA). They aim to facilitate collaboration and investment in the thriving UK market, inviting people to become a part of this dynamic landscape.
Cityscape Global, which is expecting over 180,000 international and local visitors this year, aims to bring global real-estate developers, investors, and industry stakeholders together to not only showcase projects but also to explore investment opportunities and discuss industry trends. With Cityscape Global taking place in Riyadh, Select Property is particularly enthusiastic about its inaugural participation in this location due to the promising influx of Saudi investors it has observed.
It is evident that a strong trade connection, which serves as a catalyst for enhanced economic ties, is underpinning the significance of the dynamic real estate investment market. With trade in goods and services between the UK and Saudi Arabia reaching SAR 87.8 billion between Q1 2022 and Q1 2023, marking a notable increase of SAR 34.6 billion[2], in current prices compared to the previous year, this relationship between the two nations remains strong and is poised to have a positive impact for the years to come.
In light of this, Select Property is positioned to introduce an innovative perspective on Saudi property investments within the UK during the event, to emphasise the comprehensive strategies they offer to cultivate an investment-friendly environment.
Investing in UK property represents a compelling diversification opportunity for Saudi investors – a proposition underscored by the consistent returns that the UK property market has historically delivered. Between June 2022 to June 2023, the average UK house value grew at an annual growth rate of 1.7%, demonstrating its resilience and attractiveness to investors. As a globally operating agency headquartered in the UK, Select Property is dedicated to charting pathways that lead to sustained growth and is set to highlight the considerable long-term benefits of this endeavour.
Adam Price, CEO of Select Property commented: “In recent years, Saudi investors are displaying growing eagerness with the highly profitable and reliable real estate sector in the United Kingdom. In light of the burgeoning Saudi-UK trade partnership it’s safe to say that there is a profound and positive trickle-down effect of collaborative efforts, with the real estate sector serving as just the beginning of what promises to be a robust and multifaceted relationship spanning various industries in the forthcoming years.
I am therefore thrilled to announce our inaugural presence at Cityscape as we prepare to participate at the dynamic event and be a part of this evolving partnership. This anticipated occasion provides us with a platform to showcase the diverse array of opportunities and investments that the UK has to offer to our valued Saudi investors. It is a testament to our commitment to nurturing this relationship, fostering growth, and facilitating mutually beneficial collaborations between our two nations.”
Currently, Saudi Arabia stands as the UK’s 21st largest trading partner for all of 2022, constituting 1.1%[3] of the total UK trade. This synergy between trade partnerships and investment outlook could potentially contribute to a surge in Saudi property investments in the UK, as Saudi nationals seek to capitalize on the evolving economic dynamics and opportunities presented by their trading partner. For instance, Select Property’s latest Manchester development ‘One Port Street‘ has attracted the most substantial interest from the region, with 30% of the total investors being Saudi nationals.
