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/24-7PressRelease/ - London, UK, August 24, 2008 - Balli Real Estate Holdings Ltd (BREHL), Middle Eastern property giant, has proclaimed its belief that 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.
BREHL 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 BREHL commented: "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, echoed 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.
David Reid added: "'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."
* Knight Frank Birmingham Market Activity Report, Autumn 2007
Notes to editors:
Balli Real Estate Holdings Ltd (BREHL) is a leading multi-national real estate investment and development company operating in the UK, the Middle East and other lucrative markets. In the United Arab Emirates the company operates under the Peacock Ventures Ltd brand.
BREHL has a multi-national property portfolio exceeding 1.5billion of projects under development or in the pipeline.
The company focuses on four key activities: fund management, joint venture developments, direct developments and bulk purchase investment, and is involved in some of the most exciting and prestigious real estate projects in the world.
Established in 1982, Balli Holdings operates a number of affiliated companies specialising in financial solutions, commodity trading, logistics, real estate, industrial activities, sourcing, risk management and aviation, with offices in key economic and business hubs around the world and operations in over 20 countries.
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