Abu Dhabi Islamic Bank announced yesterday that its branch in the United Kingdom financed two acquisition deals with a total value of 320 million dirhams.
The bank said in a statement that it had provided its Shariah-compliant financing for a company in Abu Dhabi to refinance a health facility in central London, valued at 900 million dirhams (187.7 million pounds), as well as for a private company in Bahrain, to acquire a logistics center in Edinburgh is worth 55 million dirhams (11.5 million pounds).
The funded health facility is considered one of the leading private healthcare facilities in the British capital, and is managed by a well-known global group in the healthcare sector. The Edinburgh property, which is managed by the British Royal Mail group, "Royal Mail", includes a distribution warehouse and an office building with a total area of 94.3 thousand square feet in the main industrial area "South Jill Industrial Estate".
"We are delighted to be able to support our clients with structured financing solutions, to match their real estate investment requirements, and they are guaranteed by high-quality, income-generating assets in London and Edinburgh," said Paul Maysfield, Head of the Real Estate Services Unit at the UK Islamic Bank in the United Kingdom.
He added, “We expect good growth in real estate finance in the United Kingdom during the year 2020, especially since the kingdom still provides high levels of transparency and safety, compared to other regions of the world, except that the pound sterling is still weak against the dollar.” Noting that “these factors combined It contributes to increasing the investment attractiveness of the United Kingdom compared to others. ”
It is noteworthy that Abu Dhabi Islamic Bank United Kingdom is located in the United Kingdom, to provide its clients with a dedicated and competitive range of commercial real estate financing solutions that comply with the provisions of Islamic Sharia.