DUBAI: Middle Eastern investors are making a return to the British property market, as the UK begins to emerge from the lockdown restrictions as a result of the coronavirus (COVID-19) pandemic.
According to the latest data compiled by global property consultancy Knight Frank, investors from the Middle East made up 16 percent of all sales to overseas buyers in the first three months of this year, compared to less than 10 percent during the second and third quarters of 2020.
While this is the highest level of Middle Eastern interest since the pandemic began last summer, the report said the total numbers were still lower than pre-pandemic levels.
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Kuwaiti Businessman Denies £8M Owed In Family Dispute
Law360, London (April 7, 2021, 5:34 PM BST) A Kuwaiti businessman has denied that he provided an £8 million ($11 million) guarantee for his family s debt that he said has already been discharged through handing over commercial properties, after a lawyer sued for the money in London.
Dr. Abdulla Al-Humaidi said in a filing at the High Court in London that he did not make a personal guarantee in February 2019 that Kuwaiti European Holding Group would pay lawyer Abdulaziz Alsanad s family three million Kuwaiti dinar ($10 million) by September of that year.
Al-Humaidi is the chief executive of Kuwaiti European, a company which holds an investment in his.
Saudi investors pump $144mln into London s office market zawya.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from zawya.com Daily Mail and Mail on Sunday newspapers.
RIYADH: Arab investors have invested £1.2 billion ($1.68 billion) in London’s office real estate market since 2018, with Saudi Arabia accounting for £103 million, according to industry data.
Figures from global real estate consultancy firm Knight Frank found that over the last decade (2010-2020), the Gulf Cooperation Council (GCC) states, excluding Oman, together invested £8 billion into London’s office market, £1.2 billion of that since 2018.
Investors from the UAE have been the most active since 2018, injecting £531 million into the UK capital, followed by investors from Qatar (£435 million), Kuwait (£120 million), Saudi Arabia (£103 million) and Bahrain (£8.8 million).
“Brexit has been less of an issue, given that most investors looking at the London office market invest because of London’s attractiveness as an investment destination relatively more favorable returns compared to other asset classes and indeed many mainland-European cities, a proven track reco
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Kuwaiti Businessman Sued In London For £8M Guarantee
Law360, London (January 26, 2021, 5:17 PM GMT) A Kuwaiti lawyer has sued a businessman in London for allegedly failing to repay an £8 million ($11 million) debt that he had guaranteed.
Abdulaziz Alsanad, a qualified lawyer practicing in Kuwait and chief executive of the Sanad Holding Group, said in a Jan. 20 filing at the High Court that he is suing Dr. Abdulla Al-Humaidi for the money. Al-Humaidi guaranteed the money would be paid back by Kuwaiti European Holding Group, Alsanad alleges.
Al-Humaidi is the chief executive of Kuwaiti European, which holds an investment in his family s assets.