CBRE to launch London's AED7.8 billion 'Mariner's Quarter' project in Abu Dhabi

PHOTO

01 May 2016
This project forms the final phase of the prestigious 'Royal Wharf' project and is located within London's Royal Docks

Abu Dhabi, UAE - 'Mariner's Quarter', a prestigious AED7.8 billion project by London's leading developers - Ballymore and Oxley - will be unveiled by CBRE. Mariner's Quarter will form the final phase of the prestigious Royal Wharf development. The phase is set to have 207 homes in two distinct buildings. One bedroom apartments are priced at AED2 million; 2 bedroom apartment at AED3 million and a 3 bedroom apartment can be bought at AED4 million. CBRE will share further information on the project from 9 - 11 May at Etihad Towers, Abu Dhabi.

"Royal Wharf represents an outstanding investment opportunity in one of London's major regeneration areas and this new phase offers UAE buyers a final opportunity to purchase in this highly sought after development." said Samuel Warren, Head of International Sales and Marketing, CBRE UK. "The 37 acre regeneration project offers further benefits as a recent CBRE research document shows that the average annual price growth in areas with regeneration projects is 4.7% over and above local house price growth, this adds significant interest for any purchaser" concluded Samuel.

Located on the riverfront, Royal Wharf is influenced by the River Thames and the areas rich maritime heritage. Residents will be able to step out of their apartments onto the 500m of riverfront promenade or the development's own 2.4 acre park and into the two riverside parks which border the development - Thames Barrier Park and Lyle Park.

"Today, London attracts affluent international buyers as it remains globally one of the most vibrant real estate hubs. UAE and GCC nationals have always shown a keen interest in London property; however the percentage of investors purely seeking a return from London real estate has surged significantly over the past two years. London provides the best opportunities in property investment opportunities. The capital city has a transparent legal system, low acquisition costs compared to other global cities, a good governance system and also a safe and tolerant multi-ethnic culture. It definitely stands out as a global investment having carved a niche for itself in the market, in terms of scaling, pricing and future growth prospects," said Faisal Khokhar, Dubai based UK Sales Director for CBRE.

Residents of Mariner's Quarter can benefit from the extensive open space and parkland at Royal Wharf, with 45% of the development devoted to green space. The 2.4 acre park forms the heart of the new neighbourhood and there will also be pocket parks, garden squares and tree lined avenues.

When complete, Royal Wharf will create an entirely new community, with a network of interconnecting streets leading onto town squares and gardens, including Sovereign Place - the development's Marylebone style high street and focal point. Sovereign Place will provide independent cafes, shops, restaurants and bars for residents and locals alike. A deal has been signed to provide a 3,900 sq.ft. Sainsbury's at the heart of this retail offering of recently.

Connectivity is also one of the major plus points for the Royal Wharf project. Mariner's Quarter at Royal Wharf has outstanding transport connections to central London, whilst allowing residents to embrace village-style living. Transport links from Pontoon Dock and West Silvertown on the DLR and Canning Town on the Jubilee Line will enable residents to reach the West End in 20 minutes, Canary Wharf in five minutes and London City Airport in two minutes. In 2018 a new Crossrail station at Custom House will mean that residents can reach Heathrow Airport in just 41 minutes and the West End in 15 minutes. In addition, the Emirates Air Line, London's only cross-river cable car, is a short walk away.

"The project's architectural façade and character has been designed to modify with the seasons, with adjustable louvered balcony screens to provide shade from the sun or wind whilst enabling residents to enjoy the outside space. The apartments have generously proportioned kitchen and living areas, floor to ceiling windows that offer an abundance of natural light and expansive views over the Thames Barrier or the O2," concluded Faisal.

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About CBRE:
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world's largest commercial real estate services and investment firm (in terms of 2015 revenue). The Company has more than 70,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 400 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.co.uk.

About Ballymore and Oxley's collaboration:
Oxley and Ballymore offer a complementary set of skills and resources for the Royal Wharf development. Oxley is one of the largest developers in Singapore and are also actively engaged in the development of important projects in Malaysia, Cambodia and the People's Republic of China. Significant financial strength, strong brand recognition in Asia and a reputation for delivering high quality developments are additional strengths Oxley brings to Royal Wharf.

Ballymore is one of London's largest residential developers with an experienced management team that have been successfully working on developments across London. Their developments include in Docklands, the lower Lea Valley, Wapping, Spitalfields, Shoreditch. Nine Elms, West Hampstead, Brentford and Hayes. Ballymore has been selling homes in London for over 20 years, giving the partnership a genuine local insight.

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