Mohammed Waleed Al-Qaddoumi
?KUWAIT: Mohammed Waleed Al-Qaddoumi, Manager, Real Estate Properties in Top Real Estate Group, announced that the Group entered into an exclusive agreement with UK based Barratt Homes Group for marketing its real estate projects in Kuwait and Qatar. Al-Qaddoumi added that Barratt Homes is one of the major real estate development companies in Britain as it was incorporated in 1958 and since then, it built more than 300 thousand residential units throughout Britain. The Company received several awards, importantly Largest & Best Real Estate Developer Award in Britain for three successful years in addition to the high quality of its projects that suit different society classes. Further, the company received Best Real Estate Developer Award in presale and post-sale customer service.
?Being interested in offering best and most appropriate opportunities to its clients in the region, the Group emphasizes that its selection of project developers is based on the developer?s seriousness, reliability, commitment and ability to fulfill its obligations and undertakings. We found these characteristics in Barratt Homes that we are proud of being its exclusive agent in Kuwait and Qatar,? Al-Qaddoumi added.
Al-Qaddoumi explained that the Group will soon offer a number of the company?s projects in Milton Keynes area. The projects are residential zones in several sites close to downtown, business and touristic areas in the city. The units intended to be offered are residential apartments under lease for 122 years while houses and villas will be freehold acquisition. Al-Qaddoumi indicated that the apartment prices starts from ? 165 thousand while houses and villas ranges from?? ? 260 thousand to ? 450 thousand.
For the units, Al-Qaddoumi emphasized that there is a number of units ready for immediate handover and others are under construction and will be completed by the end of this year or maximum during the first quarter of 2013. Concerning the payment terms, Al-Qaddoumi stated that the client would pay 10% of the unit value upon signing the contract and the remaining 90% upon receipt of the unit. Al-Qaddoumi revealed that the Group, through its relation network in the British market, could initially enter into agreement with a UK bank to provide finance to the buyers. Such agreement an its final terms will be announced in the next few days.
For Milton Keynes, Al-Qaddoumi stated that it is a promising real estate area in Britain. It is a relatively new city since 1960; located approximately 50 miles to the north of London and connected with it by a good transport network. The City is a target for large number of new projects that involve high and sustainable rentals. Prices in Milton Keynes start from ? 150 thousand. It has high and stable rental proceeds up to 6% sometimes. The City is one of rapidly growing towns in Britain with about 280 thousand population. Properties in the City are much cheaper than properties in London and their returns are better when compared to the prices thereof.
On the other hand, Al-Qaddoumi indicated that Group will continue to provide property management service in Britain including all-inclusive management of residential properties owned by investors in Greater London area, Milton Keynes and Brighton. Al-Qaddoumi stated that the Group signed a number of agreements with property owners for managing their properties and also implemented a number of maintenance contracts for a number of owners whose properties required renovation and repairs.
In another connection, Al-Qaddoumi indicated that the Group is currently in the process of securing requirements of key investors looking for large and distinguished real estate opportunities. Al Qaddoumi unveiled that the Group has several channels enabling it to satisfy the investors? expectations in different residential, commercial and touristic real estate segments in London and a number of key UK cities.
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