Abu Dhabi - Mubasher: Abu Dhabi Islamic Bank (ADIB) in the UK has granted AED 216 million (£44.5 million) structured financing for three B&Q let retail warehouses in Northern England.
The three assets are mainly let to B&Q Limited, the UK’s largest DIY and home improvement retailer, according to a press release on Tuesday.
The first transaction was with Bank of London and the Middle East (BLME) for its retail warehouse investment in Castleford, West Yorkshire, while the second transaction was reached with Kamco Invest for its clients’ retail warehouse investments in Bury and Grimsby.
The Head of UK Real Estate at ADIB, Paul Maisfield, said: "These latest transactions demonstrate that ADIB is a trusted partner in providing tailored Sharia’a-compliant financing solutions, with the ability to support clients with the origination of real estate investment opportunities in the UK."
