Real estate services provider Savills has appointed Stan Ennor-Glynn as the head of its International Residential Sales Middle East division at its Dubai office.
Ennor-Glynn has more than 15 years’ of experience within the prime central London, wider UK, and European residential property markets. He will lead the growing International Residential team at Savills overseeing the division for the MENA region.
In his previous role as the director of the MENA region at JLL, Stan advised private family offices, high net worth individuals, and other funds on how best to invest capital into real estate, residential and commercial, outside the region.
Commenting on the timing of the appointment, the chief executive officer of Savills Middle East, Steven Morgan, said: “Our recent research showed that global investment in residential increased by 9% in H1 2019, at a time when investment into all other major asset classes declined. Following a period of economic and political uncertainty, we expect GCC investors to increase in 2020 as more certainty is offered, especially in the UK where a lot of pent up GCC capital is waiting to be deployed.”
Morgan added: “In light of this positive development, we proudly welcome the strategic appointment of Stan to our fast-growing Savills family in the region. His extensive experience will support the growth of our international residential team as we continue growing from strength to strength.”
Sharing his thoughts on the potential in the UK, Ennor-Glynn said: “London has a rich history as a stable long-term destination with solid growth due to the lack of supply, which still makes it an ideal investment for wealth preservation. However, there are other regional UK cities such as Birmingham and Manchester that can offer good yields at affordable buy in prices, with a compelling story surrounding future major infrastructure projects such as HS2, which will increase connectivity across the UK.”
According to Savills, other top global investment destinations for residential include Germany and Portugal. As for Portugal, Lisbon is predicted to have one of the highest capital growths in 2020 with a combination of low interest rates, increased demand, and the potential positive impact of the Golden Visa Programme.