Kelly Rowland Headlines London Launch of Aquitainia

Manchester based, Select Property and Dubai based Select Group were joined by top celebs Orlando Bloom, Kelly Rowland and Sarah Harding last Thursday 25th September to celebrate the launch of their £1.1 billion development, Aquitainia, The World, Dubai. And they are set to repeat the night’s success at the Dubai launch on October 5th.

The exclusive VIP event, held at The Hempel Hotel, London provided attendees with the opportunity to meet with the stars and discover more about the prestigious development Aquitainia. Grammy Award winner Kelly Rowland also delivered an outstanding live performance.

Mark Stott CEO Select Property said of the event ‘We had a fantastic response to our Aquitainia UK Launch party with many of our customers, prospects and investors turning up to find out more about the development and to enjoy the lavish party put on by Select Property and Select Group. Orlando Bloom attended the event as Ambassador of Aquitainia and everyone enjoyed an outstanding live performance from Kelly Rowland.’

Following a speech from Select Property’s CEO Mark Stott, a special video message came from Hilary Swank. Miss Swank had planned to attend but unfortunately could not attend due to unforeseen circumstances.

‘The fact that Hilary Swank did a video message for us, as she was unable to attend, really accentuates the uniqueness of the project and shows how keen she is to be part of this development. Our Dubai launch is taking place on Sunday 5th October and we expect an equally successful event with even more people attending to the second launch of our exclusive Island development.’ Says Mark Stott.

The launch event seemed well timed following recent reports indicating that, while US, UK and European markets remain firmly in the clutch of the credit crunch, the UAE has become an increasingly attractive investment.

Property investments in the UK and Europe no longer deliver the returns they once did ‘pre crunch’. However, the growth in UAE economies, such as those of Dubai and Ras Al Khaimah, continues to offer a return on investment which is simply unachievable closer to home.

Mark Stott explains that “In contrast to the instability that many markets now face, the UAE continues to show considerable growth. Unlike US and European markets, the UAE is based on liquidity rather than borrowed money. What’s more the UAE has distanced itself from sub-prime lending, meaning they haven’t had any significant exposure to the effects of the crunch. “

The growth of the UAE economy is set to continue, with expectations for GDP growth at 8.3% for 2008 compared to just 1.3% in UK. Growth in the UAE will be further supported by the recent increase in crude oil. The UAE produces approximately 2.6 million barrels of oil a day and has reserves of 97.8 billion barrels meaning the oil revenue coming into the UAE will increase by 23%, earning the UAE an extra million a day.

Stott continues “This rise in the oil prices makes the UAE an even more attractive market for foreign investments, providing a stable alternative to other major global markets where returns are falling. With growth and stability comes people looking to capitalise on it; for example there has been an increasing trend of foreign bankers migrating into the UAE, attracted by more desirable employment and lifestyle opportunities. This influx of investment and the people it attracts means that the demand for real estate in the UAE is set to continue to outstrip supply with rental yields at 7-10% and projected capital appreciation at 18-20%.”

Evidence of current demand for real estate in the UAE can be seen as Dubai Cityscape, a high profile property exhibition, is poised to break new records this year, with more than 60,000 participants from over 150 countries attending.

Stott concludes “Obviously choosing the right investment is crucial for delivery of the highest returns and Select Property works hard to identify the most desirable locations in the UAE for residential property. One such location is Dubai Marina, where we have recently launched our luxurious West Avenue development. Prices in the Marina for example have soared over the last few years with the average price per square foot rising from £120 in 2005 to £342 in 2008.”

The spectacular residential project, Aquitainia, is located 4 kilometres off the Dubai coastline and will offer those looking for a Dubai property investment opportunity the chance to own a truly unique island residence, insulated from global troubles in more way than one.

News submitted by Ric Hayes, Aquitainia, Select Property