Savills is representing three UK-based developers at the event in Saudi Arabia, aiming to attract regional investment for the London developments.
Global real estate services provider Savills participated today in the 2023 edition of Cityscape Global in the Kingdom of Saudi Arabia. The four-day event is being held from the 10th to the 13th of September at the Riyadh Exhibition & Convention Centre, where Savills is showcasing properties by Knight Dragon, Battersea Power Station Development Company, and London Square.
Savills is present at the UK Pavilion, Hall 1, U60, where visitors will get a chance to see the properties being showcased, which include the £8.4 billion Greenwich Peninsula from Knight Dragon, the landmark new riverside neighbourhood Battersea Power Station (BPS), and Nine Elms by London Square. Savills experts are also available to provide insights on the UK property market and the appeal of the developments on offer for Saudi Arabian and GCC investors.
A new 42-acre mixed-use neighbourhood in Central London, Battersea Power Station will be exhibiting Koa at Electric Boulevard, the latest collection of 204 studios, one-and two-bedroom apartments and the last remaining one- to four-bedroom properties in the Power Station, Gehry Partners LLP’s Prospect Place and Foster + Partners’ Battersea Roof Garden.
State-of-the-art residential opportunities include sleek, contemporary apartments, to expansive penthouses, and a limited number of Sky Villas, each with two-floors of living space and private rooftop terraces. All residents enjoy access to unique amenities dedicated to their building, including a 29,000 sq. ft residents’ rooftop garden, and 8,500 sq. ft two-storey Sky Lounge with café, workspaces, lounge areas cinema room and more. Across the wider neighbourhood is over 100 shops, restaurants, cafes and leisure experiences, as well as a Zone 1 underground station. Apartments are priced from £640,000, and Sky Villas are priced from £6,350,000.
Matthew Sansom, Director of Residential Sales at BPSDC, commented: “Cityscape is an important exhibition to profile BPS to a global audience. There remains consistent demand to invest in London property, with international buyers recognising the strength and reliability of the UK property market.
“As a neighbourhood with a large mixed-use offering, including over 100 British and international brands, fantastic green space, a 450-metre stretch of the River Thames, and brilliant connections across Central London, many international buyers recognise the unique opportunity BPS offers in the market. Exhibiting at Cityscape offers a chance for buyers to speak with our team on-the-ground to get a clear picture of the project without the need to fly to London.”
Standing opposite the US Embassy and overlooking a 14-acre park, London Square Nine Elms is set in landscaped gardens and will feature a collection of exquisitely designed studios, 1-, 2- and 3-bedroom apartments and penthouses, with outstanding river views and sweeping panoramas across the capital. It is in close proximity to BPS and will have access to over 250 shops, cafés, restaurants, and leisure facilities. Prices start at £820,000, with the project scheduled to be completed by Q3 2023.
Naomi Minegishi, Head of International Sales for London Square, said: “London Square Nine Elms is the jewel in the crown in central London’s largest regeneration zone. This is an opportunity to invest in an extraordinary six-sided building in white and shimmering bronze, that will take its place in the capital’s skyline, alongside the established architectural landmarks recognised all over the world. With the finest interiors, these units are set to become collectors’ items in one of the most coveted addresses in London, with excellent connections to the West End, City and Canary Wharf, close to London’s elite universities, and fast access to City, Heathrow and Gatwick airports.”
The Greenwich Peninsula project by Knight Dragon is a £8.4 billion transformation of the Peninsula that will provide over 17,000 new homes, 48 acres of open public space, and two new schools. At Cityscape, the developer will showcase the newest phase to launch, Parkview at Peninsula Gardens, offering 66 units that are a mix of studio and 1-2-bedroom apartments, uniquely located between the park and the river. Estimated completion dates are between Q3 and Q4 2025, with prices starting at £417,500.
Finn Nixon, Head of Sales for Greenwich Peninsula at Knight Dragon, said, “Greenwich Peninsula is becoming London’s key modern landscape with river and park side homes, a cutting-edge Design District, and plenty more to offer. Greenwich Peninsula boasts an impressive setting, wrapped on three sides by 1.6 miles of the River Thames, as well as 48 acres of open and green space. The Peninsula is also unique to any other location in London as it can be accessed by London Underground, car, boat, and cable car.”
Attendees of Cityscape will not only have the opportunity to explore the newest developments but will also gain insights on the UK property market to help them make better informed investment decisions. Middle Eastern and specifically KSA investors have shown sustained interest in London’s real estate market, especially so given the strength of the US Dollar against Sterling, which represents a 30% saving for those buying now, compared to the peak of the market in Q2 2014.
Andrew Hawkins, head of global residential development sales at Savills UK, said: “Cityscape Global – a renowned real estate event – will allow developers to showcase their latest offerings and visitors to experience first-hand how newly developed buildings and areas are shaping the next generation of properties. The event has proved extremely successful as the launch platform for iconic developments such as the Burj Khalifa and BPS, and we expect this first edition in Saudi Arabia to be a glorious success.
“The recent interest rate increases have not had a major impact on prime residential values in London given the role of cash and equity in these markets. Tenant demand is still strong, and we are seeing continued rental growth, albeit at a slower rate, with prime London residential rents increasing by 1.4% in Q2 2023.”
Savills is a global real estate services provider listed on the London Stock Exchange. Savills operates from over 700 owned and associate offices, employing more than 40,000 people in over 70 countries throughout the Americas, the UK, Europe, Asia Pacific, Africa, and the Middle East, offering a broad range of specialist advisory, management, and transactional services to clients all over the world.
With a presence in the Middle East for over 40 years, Savills offers an extensive range of specialist advisory, management and transactional services across the United Arab Emirates, Oman, Bahrain, Egypt, and Saudi Arabia. Expertise includes property management, residential and commercial agency services, property and business assets valuation, and investment and development advisory.