Ahli United Bank (AUB) has teamed up with Jones Lang LaSalle (JLL) to source and identify residential and commercial properties in London to suit the requirements of local and regional clients across its network, said a report.
AUB deputy group chief executive for private banking and wealth management Sawsan Abulhassan said this was in response to London continuing to top the global charts in direct real estate investments, reported the Gulf Daily News, our sister publication.
"Thanks to AUB Group's decades of presence and expertise in the London market, our clients can benefit from tailor-made residential mortgage financing combined with sound expert advice and the seamless, helpful personal service they've come to be familiar with, from the shores of the Gulf to the banks of the Thames," she noted.
The bank hosted a seminar for its private banking and wealth management clients at the Capital Club, Bahrain, where JLL experts spoke about the latest developments in London's residential real estate market.
The seminar provided up to date insights on the performance of the London residential market, the key issues shaping its future and recent changes to the UK's residential tax regulations.
JLL head of residential research Adam Challis said the robust demand for London residential property continues to be globally driven, more diversely so than ever.
"Whether it is the UK's economic forecasts, the cultural and business linkages, or investment performance of London residential market, there is no shortage of sound motivations to underpin demand," he stated.
"And whilst the strength of international demand has been the highlight of the post-downturn market, the second half of last year marked the return of domestic buyers in greater numbers," said Challis.
According to him, there are two key demand-side trends that JLL expects to solidify this year: A broadening of demand for London property from an even wider global spectrum in parallel with a much improved sentiment over the state of London economy, ensuring that domestic demand is up significantly compared to a year ago.
"We forecast Central London price growth of 8 per cent this year, holding at or near this level for the next four years," said Challis.-TradeArabia News Service