Chestertons, the international property agency established in 1805, will be unveiling AED8.8 billion ‘Royal Wharf’ project, a series of luxury mixed-use developments by Oxley and Ballymore for Dubai investors. Royal Wharf will create a new town centre complete with 3,385 new riverside properties, providing homes for approximately 10,000 residents in London. The exhibition in Abu Dhabi will be held at Meeting Room 4, Jumeirah Etihad Towers, West Corniche from 30th October to 1st November. Prices for these properties will start from AED1.6 million. The project is located close to the Emirates Air Line, London’s only cross-river cable car.
“London, unlike any other property market is a key hub for international property investors. It is a versatile global capital as it offers the best prospects for the investors in terms future growth. London has a safe, tolerant multi-ethnic surrounding offering a good choice of both investment and lifestyle options thereby making it an attractive choice of location to purchase a home. Favourable conditions and an upbeat market anticipates growth in the property sales sector in London and this certainly is an ideal time to invest in London properties,” said Samuel Warren, Director of International Residential Developments, Chesterton Humberts.
The ‘Royal Wharf’ project will include two new parks and three pocket parks, a high street with nearly 5,000 sq.mt. of shops, bars and restaurants and significant new community infrastructure including a school. This residential centerpiece of the transformation of the Royal Docks in East London launched its second phase on October 24th 2014 in London.
Oxley Chief Executive, Ching Chiat Kwong, said, “We are looking forward to seeing Royal Wharf transform and rejuvenate the Royal Docks area when residents arrive within the next couple of years. The sell-out response to the units launched in the first phase is testament to the strong value proposition that we are offering, and we expect to see a significant level of interest for phase two as well.”
With nearly 3,500 new homes, Royal Wharf is the largest development in London to come forward since the launch of Battersea Power Station and unlike some developments in the capital, provides achievable housing options for Londoners. The first residents will begin to move into Royal Wharf in mid-2016, just two years after work commenced and in an unprecedented pace of development for London, the whole development will be completed by 2020.
John Mulryan, UK Managing Director of Ballymore, added “Royal Wharf is setting the standard for London properties with unheralded pace of development and achievable prices. Phase two offers a unique opportunity to buy into an area of the capital that is set to drastically change and evolve in the coming years.”
The properties, designed by Ballymore comprise of town houses, three bed duplexes, one & two bed apartments and compact suites exhibiting a distinct blend of Georgian tradition with the best of modern living. Each property’s layout and design takes residents’ needs into mind, while maximizing views of the nearby O2, Canary Wharf and the Thames Barrier and the leafy garden squares.
“The first phase of Royal Wharf was launched in London in March 2014 and the homes sold in just a few days. This translates into the fact that the second phase is a golden opportunity to invest in one of London’s most promising new destinations. When complete, Royal Wharf will offer 45% outside space, including leafy squares, a riverfront promenade and a bustling Marylebone style high street with an impressive retail selection, creating a complete neighbourhood lifestyle for residents. With plush amenities and a versatile infrastructure, the ‘Royal Wharf’ project launch is indeed a golden prospect for investors in and around Abu Dhabi to make the best investment deals in this London property,” added Samuel.
Royal Wharf is one of the best connected places in London with excellent transport links from Pontoon Dock DLR station and Canning Town on the Jubilee Line, providing access to the West End in 20 minutes, Canary Wharf in five minutes and London City Airport in four minutes. In 2018 a new Crossrail station at Custom House will mean that residents can reach Heathrow Airport in just 41 minutes.