To enhance the assets of my student residence in Kingston
Abu Dhabi Islamic Bank provides 124 million dirhams of financing to a Bahraini company in the United Kingdom
The bank closed financing deals worth more than 750 million dirhams.
From the source
Abu Dhabi Islamic Bank has provided 124 million dirhams of structured financing, through its headquarters in the United Kingdom, to support the latest acquisitions of the Bahraini company "Black Sand" operating in the real estate sector in the United Kingdom.
The funding aims to bolster the assets of Vibe Student Living, a high-quality student residence on the banks of the River Thames in Kingston, London.
The project consists of 300 units distributed over 111 studio apartments and 189 bedroom apartments.
Head of the Real Estate Services Unit at ADIB - UK, Paul Maisfield said: “We look forward to supporting Black Sand's financial endeavors and are working to support the implementation of its commercial real estate investment strategy in the UK, targeting luxury assets, which have a clear potential to generate strong revenues. Well-established contracts with tenants with a focus on cash returns.
Abu Dhabi Islamic pointed out that this year alone, it closed financing deals worth more than 750 million dirhams (150 million pounds) in senior financing deals.
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