Qaddoumi: the city of Milton Keynes in the UK is still the favorite destination for Kuwaiti citizens and the most attractive for owning real estates.
Deputy Managing Director for Marketing at a Top Real Estate Group (TREG) Mohammed Walid Qaddoumi stated that the city of Milton Keynes in the UK is still the favorite destination for Kuwaiti citizens and the most attractive for owning real estate's for decades. This is due to several reasons, perhaps the most important of which its proximity to the British capital London, where it is only 32 minutes by train , in addition to the large area of its freehold homes and their reasonable prices compared to their counterparts in London. Qaddoumi added that prices of houses in Milton Keynes could be up to about 600 thousand pounds while a house of the same size and specifications in locations near London could reach a price of several million of Sterling pounds. This prompted many Kuwaiti and Gulf families during the past two years to think about buying and investing in Milton Keynes area. Many of the families had successful experiences of owning real estates in the region and enjoy a sense of comfort and safety. They have strengthened the bonds of social cohesion, especially among the new owners in the area who lived already in their houses. The Group is proud that it had strongly re-brought Milton Keynes to the forefront of investment over the last and the current year through introducing about 300 Houses and villas in a variety of prime locations in the city. The Group has already handed over houses to part of the new owners and work is in progress for delivery of other units on a monthly basis according to schedules of achievement as agreed, in addition to units under construction upon which the group is currently working and which will be displayed and marketed during the exhibition.
Qaddoumi stated that the group had signed an exclusive agreement with Barratt Homes last year for marketing its projects in the Gulf Cooperation Council (GCC) and after having achieved a high percentage of sales that exceeded the expectations of the developing company, the associate of Barratt (David Wilson) was encouraged to join the exclusive agreement. David Wilson company is famous in the region with building houses a high degree of sophistication and quality, which takes into account the green environment and that houses have spacious areas both in terms of the construction area, park or land .
Qaddumi explained that hat the group will exhibit about 50 House during the exhibition period with variant areas and prices. He denoted that the houses are still under construction and will be delivered in stages until the end of the year 2015. He pointed out that the customer pays 10% of the value of the house in advance and 90% upon receipt of the house and that all contracts and payments and procedures take place between the lawyer of the client on the one hand and the developer 's lawyer the other hand , to ensure the rights of all parties.
Speaking about Milton Keynes Qaddoumi said that it is one of the promising real estate regions in Britain. The city is relatively recent established about 1960 and is located about 50 miles north of London, with which it has a good transport network. The city is targeted by a large number of new projects which ensures high and sustained rent rates. Prices in Milton Keynes start from 150 thousand Sterling, with a high and stable rental returns of up to 6% sometimes. The city is one of the fastest growing cities in Britain and has a population of about 280 thousand people. Real estate's therein are a lot cheaper than real estate in London and have better returns compared to their prices.
On the other hand Qaddoumi noted that the Group continues to provide Property Management Service in Britain, which includes full management of residential properties owned by investors in the Greater London area and Melton Keynes areas.
Qaddoumi explained that that the group has signed a number of agreements with landlords to manage their properties and also implemented some maintenance contracts for a number of owners who needed their properties to be re- renewed and restored.
On the other hand between Qadoumi denoted that the group is still working on securing the needs of older investors looking for large and distinctive real estate opportunities. Qadoumi also revealed that the group has several channels that enable it to achieve the wishes of the investors in the various sectors of residential ,commercial and tourism real estates in London and a number of main British cities.