Middle Eastern giant enters Birmingham property sector

Middle Eastern property giant, Balli Real Estate Limited (BREL) believes properties in Birmingham city centre offer excellent long-term value for owner-occupiers and investors. In light of this it has made a major investment in `Latitude`, a superior city centre development of 172 apartments and penthouses a short distance from New Street train station and the Bullring.

BREL is the property development and investment division of Balli Holdings, a large multi-billion dollar conglomerate covering commodity trading, industrial activities and real estate that has operations in 22 countries around the world. Along with promoting sales of Latitude in the UK, Balli plans to market the development through its networks in the Middle East, Asia and Europe.

David Reid, Director of BREL comments: "We see city centre property in Birmingham as a strategic long-term investment. Birmingham is the second largest city in the UK, with a strong economy, a growing population and a beautifully regenerated city centre. For both owner occupiers and investors this city offers many opportunities."

Joanne Clarke, Associate at leading global estate agents Knight Frank, echoes this sentiment: "Housing demand is forecast to grow by 11%* over the next decade, due to the city`s expanding workforce and student population. Also, the lower crime levels than comparable cities, good schools and improved retail provision mean more and more people are looking to become owner occupiers in the city."

`Latitude` comprises 172 apartments and penthouses for private sale. Since its launch, over 60% of the total development has been sold. High specification and stunning layouts add to the prestige of the development. Situated in the heart of the city, on the corner of Bromsgrove and Hurst Street, `Latitude` is just a few minutes walk from the Bullring Shopping Centre and Birmingham New Street Station.

Prices start from £149,950 (£320 per sqft), which means `Latitude` provides excellent value for money, especially when compared to other UK cities such as Manchester, Southampton and London.

David Reid comments: "`Latitude` is ideal for either owner occupiers or individual and bulk purchase investors looking to secure high quality property in the centre of one of the UK`s premier cities. We have every confidence that these units will continue to be popular with people from the UK and abroad."

BREL has a multi-national property portfolio exceeding £1.5 billion of projects under development or in the pipeline.

The marketing suite for `Latitude` is now open 5 days a week from Saturday to Wednesday, 10am-5pm. Prices start from £149,950, for further information please call Knight Frank on 0121 200 2220.

* Knight Frank Birmingham Market Activity Report, Autumn 2007

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