In London, banks support foreign real estate investment

LONDON: Due to the weak pound sterling, GCC real estate investors are focusing their attention on London. Additionally, the city is home to a large number of banks that are prepared to assist individuals of GCC nations in taking advantage of the chance. (Reported by news source)

Although GCC nationals have traditionally been a sizable portion of London's foreign property owners, this year's decline in Russian investment and the relative strength of the dollar-pegged Gulf currencies have resulted in an increase in GCC buyer interest.

And banks that specialised in connecting the area to the U.K. market are profiting on the potential as they play a vital role in enabling transactions for GCC investors eager to extend their exposure to London real estate.

The Bank of London and the Middle East (BLME) recently (15 December) announced the launch of a new office in Mayfair to cater to GCC nationals interested in purchasing real estate in the UK.