A UK-based property developer wants to “bring a little bit of Surrey to the Middle East” by constructing traditional English stately homes in Oman
Consero is to build $455m worth of residential properties in Muscat in a joint venture with the Al Raid group, an investment business owned by the Al Araimi family who have close ties with the country’s royals.
Together, the two companies plan to build 14 country manors in Muscat with work set to start this summer. The partnership will also deliver luxury complexes, including apartments, penthouses and family homes, in Muscat, Shatti Al Qurum and Al Khuwair.
“This project is bringing a little bit of Surrey to the Middle East,” said a Consero spokesman.
Saraya, the architectural design and project management division of the Al Raid Group, will act as lead consultant on the project.
Consero was founded by its two managing partners, Robert Osborne and Steven Glover, in 2004. It focuses on London and its surrounding areas and is thought to be the only UK house-builder operating in the £2.4bn Omani property market.
It aims to reproduce its style of archetypal stately homes, such as Furze Croft – a newly built mansion in the small town of Weybridge.
Robert Osborn, co-founding director of Consero London said: “Our companies have entered into this exciting joint venture following the success of an Oman based pilot project where Saraya and Consero London worked alongside each other.
“This joint development demonstrated to the boards of both companies that we work well together and the fusion of our skill-sets creates a real estate product of exceptional quality.
“We have developed an excellent relationship with Saraya who are a leading specialist in high quality architectural design and project management in Oman.”
Sheikh Fahad Abdullah Al Araimi, chief executive of the Al Raid Group, said: “We are delighted by this new agreement which will fuse the Al Raid Group’s real estate strength, design excellence and local knowledge with the outstanding British product quality and innovation for which the Consero London brand is renowned.”
The deal is shows cash for projects is available for the Middle East according to Nick Maclean, director at property group CBRE.
“There is significant flow of capital trying to enter the Middle East, particularly from China, Singapore and Malaysia,” said Maclean.