Saudi buyers snapping up European commercial real estate
Saudi Arabian asset managers have their eyes on European commercial real estate, according to experts. Sherif Selim, head of global real estate at Saudi Arabian asset management firm SEDCO Capital, told media: “Since the British pound weakened against the dollar in 2016, UK assets have become even better value. While London has traditionally been the centre of focus of foreign investment, we believe that there are unique opportunities to be found in regions across the UK.” Selim added: “We have confidence in the UK as a whole and we foresee an increasing demand for commercial property in the medium-term as companies expand in response to positive economic conditions.” SEDCO Capital announced on Tuesday that it has acquired three properties worth £137.5m ($179.9m) across France and the UK as investments for its clients. The deal involved the purchase of office buildings in Yorkshire and Bracknell in the UK and Paris in France.
Tags : INTERNATIONAL