The Shari’ah compliant lender said that Middle East investor appetite for UK commercial real estate assets is being driven by a desire to diversify portfolio risk, the weakened pound as well as attractive rental yields in the strong performing regional markets and long-term security of income.
Wednesday 21, August 2019 BY KUDAKWASHE MUZORIWA
Abu Dhabi Islamic Bank (ADIB) UK, has financed the acquisition of an AED 120 million (GBP 26.95 million) office building in Edinburgh by the Bank of London and the Middle East (BLME), leased to Centrica as their corporate headquarters in Scotland until 2035.
Paul Maisfield, the Head of UK Real Estate at ADIB UK, said, “The availability of suitable products and the competitive nature of the market is the main challenge our clients are facing, so as well as providing financing we are assisting clients with the origination of investment opportunities via our network of agents in the UK.”
According to ADIB UK, BLME sources and co-invests in commercial real estate opportunities alongside professional investors from the Middle East.
BLME is a UK Shari’ah compliant bank with a branch in the Dubai International Financial Centre, regulated by the Dubai Financial Services Authority and Boubyan Bank is the bank largest shareholder.