Indian entrepreneur Sameer Gehlaut has doubled down on his commitment to London with new plans to invest heavily in property in the capital over the next 12 months, with a focus on world-class commercial real estate projects.
The announcement follows the news last year that Sameer sold a significant stake in Indiabulls Housing Finance, totalling £150m. At the time, he announced that one of his focuses in the UK would be technology investment. Now, the investor has announced that he will also leverage that war chest to hunt for new super-prime opportunities in the London real estate market.
Sameer, one of India’s best-known and most successful entrepreneurs, launched the Indiabulls Group at just 26 before growing it into one of India’s largest and most profitable conglomerates, employing over 20,000 people. Its continued position as a heavyweight in Indian housing finance was confirmed by several high-profile investors, including Blackstone and the Abu Dhabi Investment Authority, inking a deal to acquire a stake.
Over recent years, Sameer has invested heavily in the UK economy through his family office Clivedale, which is now one of London’s largest super-prime developers. Its current developments include some of the city’s most prestigious addresses: The Mandarin Oriental Mayfair; The Mansion, Marylebone; Mayfair Park Residences; and 73-77 Brook Street. Clivedale is also behind the redevelopment of 20 Carlton House Terrace, which was recently leased to energy giant BP in the biggest deal of its kind over the last decade.
As part of this renewed commitment, Sameer is on the hunt for new commercial redevelopment opportunities in Mayfair and the surrounding area. Clivedale’s projects will uphold the company’s standard philosophy of creating stunning spaces with five-star amenities in London’s most sought-after locations. Each will be finished with unrivalled attention to detail and to a truly best-in-class standard.
“Investment in high-end property is the beating heart of London’s economy,”
said Sameer.
“Without high-quality, attractive spaces for the international elite to live and work in, they will not choose to locate themselves in London, denying it the wealth which flows as the city’s lifeblood.
“Investment in world-class offices has a huge positive impact on the city’s infrastructure as well as the economy. It draws the world’s most elite businesses, like big name banks and finance companies, into the city where they contribute to the economy, driving investment and creating jobs.
“London’s massive success is rooted in its ability to attract the biggest players from across the world. And it is critical to the economy of London and the wider UK that the capital can continue to compete for the expertise, investment, and wealth that comes with the companies that take up prime office space.”
The announcement comes despite the fact that the economic climate in the UK is currently defined by currency fluctuations and the threat of rising costs, an energy crisis and uncertainty in both business and the wider community.
Sameer Gehlaut is insistent that this is no barrier to successful investment, rather, there’s a demand for prime office development that will present longer-term opportunities to see London bounce back.
“I’ve been investing in London real estate for over a decade, and I’ve seen plenty of fluctuation in the markets and the economy,”
he said.
“If you’re making the right investments in products, services, technology, or anything else that people really want, you’ll be successful. London is also one of the world’s great cities – it will always come back better and stronger.
“I won’t be put off by the current economic climate. When I invest, I think long-term. I’m looking five, ten or twenty years down the track and I know London will bounce back, so I’m not being deterred.
“Current take-up of office space in London’s West End is far above virtually all other locations. This is primarily driven by demand for design-led, luxury office spaces. Developers can expect fantastic projected returns from piloting developments at the forefront of this growing trend.
“But my heavy involvement in prime office development isn’t driven by speculation; it is driven by demand. The West End, for example, is seeing one of the swiftest recoveries of any major European office market, and there is plenty of room for London to continue leading in this area. I also believe that developing and filling world-class office space is the answer to addressing the 30 or so million square feet of vacant office space in the city. A thriving London economy will encourage company expansions and deter relocations out of the city.
“I think it is absolutely right that this is a time for investors to commit to ambitious long-term projects. As a service-based economy that can’t rely on exports, it is critical that businesses and industries have access to funding so they can succeed and expand, driving growth in the process. But it is not only vital for the economy that investors take a long-term view – investors too will reap the rewards of sustained and dynamic investment.”
Find out more at www.clivedale.com