“Gulf Islamic Investments” acquires a majority stake in the British “Ofa” for local loans

picture

Gulf Islamic Investments, a global Shariah-compliant investment company in the UAE, has announced an investment in a majority stake in OFFA, a provider of Sharia-compliant interim loans to the UK real estate market.

And it stated in a statement that this investment would contribute to expanding the financing solutions provided by "Ofa" to the real estate market, by developing long and short-term real estate financing products.


investment opportunity

The co-founder and CEO of Gulf Islamic Investments Bank, Bankg Gupta, said that Ufa is an attractive cross-line lending company that benefits from decent net profit margins and operates in a fast-growing market currently worth £5.1 billion.

He added: "The company operates from the Birmingham region in England, which has the largest number of Muslims in the United Kingdom, and is the only company providing Sharia-compliant interim loans in the United Kingdom."

He revealed that the value of interim loans in the United Kingdom grew by 8.5% in the first quarter of 2022, at a time when real estate prices, demographics, and Ufa's position in the market make it an irreplaceable investment opportunity.

value for investors

For his part, co-founder and CEO of Gulf Islamic Investments, Mohammed Al-Hassan, said that this major investment in this high-potential market reflects a commitment to identifying attractive opportunities wherever they are around the world.

He added, "In addition to our recent acquisition of the Digital Bank, we are currently pursuing attractive opportunities in the same field and in the direct credit sector, in order to provide sustainable value to investors and stakeholders."


Asset Portfolio

In the same context, the CEO of "Ofa", Bilal Ahmed, said that this major investment from the Gulf Islamic Investment Company would provide us with capital to expand our asset portfolio and product range.

He added, "We carefully evaluated potential investors and chose this company for its commitment to a true partnership, its correct understanding of Shariah-compliant investment, its solid international record, and the strength of its experience."

Follow our latest local and sports news and the latest political and economic developments via Google news

Keywords: