Sidra Capital, a Saudi financial services company that focuses on international investments, has announced its partnership with London-based Dwyer Property for the development of Hamilton Drive a luxury residential development project in St. John's Wood, London. Hamilton Drive is a project designed by Robert Adam, a world-renowned leader in traditional and classical architecture. Located in St John's Wood, one of the most affluent parts of London, near to the iconic Abbey Road zebra crossing made famous by the Beatles, this 1.2 acre freehold site will comprise of ten new built luxury town houses as well as a villa. "We see a consistent demand among Saudis and regional investors for various types of properties in London including high end residential products. GCC investors traditionally invest in more mature markets that can weather economic volatility," said Hani Baothman, Vice Chairman of Sidra Capital. "According to Savills, the contribution of Middle Eastern investors to London's super-prime (over GBP10 million) market is very significant at over 15 per cent, only behind Russian (19 per cent), and British (33 per cent) buyers." According to data from Savills World Research, the top property investment destination for Arab investors is London with a whopping 35 percent of all Arab institutional investments focused on London over the last three years. Further buyers from the Middle East spent the most on prime London property than any other buyers with an average property value of GBP 4.5 million. Baothman added: "It comes as no surprise that this is the fifth luxury real estate project rolled out by Sidra Capital and we have established a firm position as one of the leading advisors on UK luxury real estate. Projects such as Pink Mews, Aldwych Chambers, Chancery Lane and Greycoat are just few of the many real estate projects that Sidra Capital has been actively involved in the UK." "The partnership with Al Murjan through its advisor, Sidra Capital is indeed an exciting one. We are very selective of who we work with and believe that the highly complementary relationship we have enjoyed thus far has already vindicated our decision to collaborate with Al Murjan and Sidra Capital," said Joey Esfandi, Chairman, Dwyer Property. "Dwyer Property has a long standing track record in high end residential and commercial investment and development in the UK and our team is well known for its uncompromising attention to detail and hands on approach. Given this level of experience and expertise we feel that we are ideally placed to add value for our joint ventures with Sidra Capital's investors. The transaction was completed in a manner that exceeded our expectation in terms of quality, speed and thoroughness. We hope that Hamilton Drive will be one of many in which we will jointly participate with Al Murjan and Sidra Capital."
