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British Property Developer Will Build “a Little Bit of Surrey” in the Middle East

UK-based luxury developer Consero has been engaged to build £300m worth of apartments and mansions in Oman, in effect creating a “little bit of Surrey” in the Middle Eastern community.

Consero announced a joint venture with the Al Raid Group, an investment business owned by the Al Araimi family, which has ties to Omani royalty.

The two companies intend to build fourteen elegant manors in Muscat. Each property will measure around 5,000 sq ft in area and carry an anticipated sale price of more than £1m.

They will also deliver 264 luxury complexes in Muscat, Shatti Al Qurum and Al Khuwair. Founded by managing partners Robert Osborn and Steven Glover in 2004, Consero focuses on projects in London and the Home Counties.

It is believed to be the only British housebuilder operating in the Omani property market, which is worth an estimated £2.4bn. Consero are globally famous for unique and elegant British inspired mansions and recently revealed plans to build a £60 million mansion near Ascot.

Windlesham House will boast 15 huge bedrooms and ten reception rooms, all offering accommodation.

In total it will be more than 45 times the size of the average new house.

Consero will set up an office in the Omani capital, and construction is scheduled to start in Muscat in summer 2015.

The company intends to reproduce its signature stately British homes, as typified by Furze Croft, a new-build mansion in Weybridge.

Consero representatives say the mansions will raise the bar for for quality and luxury in European-style homes in Oman.

The chief executive of the Al Raid Group said his company was pleased with this new arrangement, which will combine the Al Raid Group's real estate strength and local knowledge with the quality and innovation for which Consero is renowned.

Specialists in Construction Insurance

Nick Maclean, director at property group CBRE, said that the deal represents an influx of international money being invested in the region’s property market.

He stated that capital from China, Singapore, and Malaysia is also pouring into the Middle East.

The Consero-Al Raid project appears after an agreement between Dubai-based Damac property group and Donald Trump, which resulted in the construction of 100 mansions in a location overlooking the Trump International Golf Club in Dubai.

Robert Osborn, one of Consero London’s co-founding directors, said that the two companies embarked on the joint venture after an Oman-based pilot project between Saraya and Consero met with great success.

The Oman project produced a luxurious mansion, 12,000 sq/ft in total, which took three years to build and was finally unveiled in December 2014.

Mr. Osborn said that the joint development proved to the directors of both companies that they worked well together and a blending of their abilities resulted in a final product of high quality.


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