Dubai, Tuesday, February 21, 2012: The Gulf office of Capital Trust Group (CTG), based in Dubai, announced today the acquisition of commercial real estate of about $100 million in value spread among four city-centre locations in the United Kingdom.
While the Group continues its search for investment properties in the UAE, it has acquired four office buildings in Leeds, Cardiff, Southampton and Birmingham. All properties are single-let to grade A tenants with leases ranging from 11 to 15 years.
The Group Chairman, Bassam Aburdene, commented that "UK real estate continues to be an important part of our clients' portfolios, mainly for the security and predictability of its income stream and the liquidity which makes the acquisition and disposal process straight-forward and investor friendly".
George Shweiry, Managing Director for Europe and the Middle East, added: "In the face of continued economic uncertainty, we have focused on prime locations in regional UK cities outside London where rents are 75% lower. It is these attractive rental levels, combined with the quality of services and availability of a qualified workforce, that is increasingly driving the demand from prospective tenants".
CTG's Gulf Office also announced that there is a serious demand from investors on Dubai real estate market, especially income-generating real estate, which led to significant increases in the value of assets and rents.
Capital Trust, which is headquartered in London, with offices in Dubai, Beirut and Washington, has been active in real estate markets since 1985.
For more information, please visit: www.capitaltrustltd.com
Media contact:
Mr. Emad Odeh
Email: emad@capitaltrustltd.com
Tel: +971 4 4227199
© Press Release 2012
