(MENAFN- Khaleej Times)Select Property a regional and global developer has seen a notable increase in GCC investment since the launch of its new CitySuites luxury service apartment scheme in Manchester.
Over 24 per cent of Select Property investors hail from the GCC while 18 per cent are from the UAE. Having witnessed major economic expansion and population growth over the recent years Manchester has seen unprecedented demand driving capital returns nearly twice as high as those found in London in 2013 and almost three times the national average. Home to the UK's largest concentration of commercial and retail floor space outside London Manchester is attracting and retaining world-leading organisations with an estimated 80 of the FTSEs 100 companies having representation as well as more than 50 international banks and 600 major overseas companies. Adam Price global sales director at Select Property Dubai said: "London has typically always attracted GCC investment due to being a property safe haven but our savvy investors are now beginning to look to cities further north which are offering even greater returns on investments. Launching in Manchester CitySuites apartments are available for rent for as little as one month bringing a whole new approach to the idea of renting. We always have the end user in mind and have recognised a huge undersupply of property in Manchester that is available on short and long-term contracts and CitySuites is bridging that gap in the market." The 17 storey striking building occupies a highly desirable location with the 400 million pound multi-use Greengate Embankment development in central Manchester. Neighbours include Harvey Nichols Louis Vuitton and Selfridges as well as Manchester's major social hubs and thriving business direct. The new CitySuites concept in rented living is targeted at business executives working on short-term contracts and young professionals who want luxury touches and amenities of a hotel with their own space and privacy. -
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