Hani Baothman: The Dwindling Pound Creates Investment Opportunities in the UK

Hani Baothman: The Dwindling Pound Creates Investment Opportunities in the UK

Jeddah, October 2016: The London real estate market is traditionally a safe haven for GCC investors, however, a dwindling pound and a rattled real estate market resulting from the Brexit has spurred uncertainty among many investors. As a result, Sidra Capital hosted an evening with Ben Stroud, head of residential at JLL MENA to discuss the latest developments in the UK real estate market post Brexit.

“Despite the apparent problems Britain faces after the Brexit, we still believe that there is opportunity, especially in the London real estate market, “said Hani Baothman, Vice-Chairman of Sidra Capital. “Property prices are lower due to the initial shock after the Brexit vote, however, the London real estate market has proven to bounce back quickly in the past, as the subprime crisis has proven. The significant decline encountering the GBP reaching approximately 20% against the U.S. dollar at the beginning of the year led to pushing international investors even further to invest in the UK real estate market. Moreover, Savills has already forecasted capital value appreciation of 20.8 percent for Central London over the next five years.”

The event titled Brexit: Impact on GCC investment in the UK & Europe is the third event of its kind after the successes of previous events on the decline of the Euro and the oil price slump.

“The decision to host this event came natural to us as it offers a platform to engage with our investors and provide them with international expertise and market insights,” said Dr. Currim Oozeer. “Further, the UK is one of our most active markets. Earlier this year we advised on our largest transaction to date with the acquisition of Kinnaird House on Pall Mall in London, and the current environment allows us to identify even better opportunities.”

Sidra Capital is a Shari’ah compliant financial services company located in the Kingdom of Saudi Arabia that focuses on Asset Management and Corporate Finance & Advisory. As of September 2016 Sidra Capital manages assets in excess of SAR 3,7 billion which are all invested in alternative investments. The company has established itself as the preferred choice for investors who want to invest abroad, providing its investors with an international network of strong strategic relationships that provides the highest level of expertise and market insight.