Malaysian investors dominate London’s luxe property market
To date, projects between both countries are already worth GBP5 billion
According to the New Straits Times, the chief executive of Dartmouth Capital Advisors (DCA) David Ashcroft revealed that they have witnessed a growing interest from Malaysian investors for London’s luxury property market.
This report came a week after Foreign Secretary Dominic Raab’s visit in Kuala Lumpur for a meeting with Malaysian Minister Tun Dr Mahathir to consider investment and business connections between Malaysia and the UK, which at the moment is already valued at GBP5 billion (USD6.4 billion) a year.
Among the renowned projects between countries, include the renovation of Battersea Power Station that highlights the investment of Malaysia in the UK.
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In a few weeks’ time, Britain’s manufacturer of medical devices Smith+Nephew, will be opening their very first plant in South East Asia, specifically in Penang, Malaysia. Over the next half a decade, they will be creating 800 jobs and advancing the UK-Malaysia trade.
Ashcroft also disclosed that DCA represents Singaporean firm City Developments Ltd (CDL) who launched a modern and stylish development called 100 Sydney Street in the south of Chelsea. He said that Malaysians accounted for two-thirds of buyers and 40 percent have already been sold, with a minimum price of GBP5.75 million.
“We are excited by the prospect of significant international interest in our 100 Sydney Street development. Its prime location is ideal for those interested in taking advantage of London’s culinary and retail opportunities and its appeal to the Malaysian market so far is very promising. We expect this trend to be indicative of the global appeal we anticipate our apartments having,” he added.
He said the education system has always driven Malaysians to consider moving to the UK. During the academic year 2017 to 2018, around 15,000 Malaysian students enrolled in the British Higher Education, the fifth-highest from any country, excluding British nationals.
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