From Milton Keynes to Dubai… Michael Graham at the International Property Show
Falling oil prices and political unrest in the Middle East are driving interest among Gulf-based property investors to look towards London for their next purchase. According to global real estate consultants Jones Lang LaSalle, these buyers are spending between $20 and $50 million on high-yield, long-term assets in and around the capital1.
But, as the Michael Graham team recently discovered, Milton Keynes could see the next residential property boom for Middle Eastern buyers. Interest in the area was rife from visitors to our stand at the International Property Show, held in Dubai last month.
First appearing on the calendar of anyone who is anyone in property sales and lettings globally 15 years ago, the show is now the premiere event in the region for investors, developers, agents – and other stakeholders in the property industry – to join together and drive growth across emerging markets.
The event provided an opportunity for us to showcase our patch, to offer insight into the property market in the south of England, and to explore opportunities to build links in unchartered territories.
The first day was jam-packed, as Vice President and Prime Minister of the UAE, Sheikh Mohammed Bin Rashid Al Maktoum, addressed the crowds and looked around what was on offer at the Dubai World Trade Centre.
There was a definite buzz in the air, and a sense of excitement and opportunity pervaded the entire event. All five of us were kept busy, chatting to the steady stream of visitors and potential investors.
And Milton Keynes was the star of the show! We were surprised at just how many people from across the globe knew about the area and the multiple benefits it has to offer, from commuter transport links to solid returns on property investment.
The keenness of investors to look beyond the draw of London and acknowledge the prospects inherent in other parts of the country was fantastic to see.
We all had a great time in Dubai, but with business at the fore of the agenda, we came away having developed a good number of enquiries and built strong leads that will help us to market our property portfolio beyond our current reach. Now, the world really is our oyster!