Abu Dhabi – Mubasher: Abu Dhabi Islamic Bank (ADIB) has offered more than AED 1 billion (£200 million) in UK commercial real estate financing during 2021.
The bank entered into two deals in the UK in November, raising its portfolio to about AED 2.5 billion (£500 million), according to a press release on Tuesday.
Meanwhile, ADIB has provided AED 181 million (£37.05 million) in financing to Saudi Fransi Capital (SFC), a wholly-owned subsidiary of Banque Saudi Fransi in Riyadh, to acquire the Gartner HQ office building in Egham in England.
The Emirati bank has also enabled the Al Rajhi Legacy Fund to purchase Olympus House in Tachbrook Park in England by granting the Fund with AED 36 million (£7.4 million).
The Head of UK Real Estate at ADIB, Paul Maisfield, said: "Investor appetite continues to be strong, particularly for assets offering secure long dated income in the regional markets, providing attractive cash on cash returns."
Meanwhile, the Global Head of International Business Group at ADIB, Abdulla Al Shehhi, commented: "Over the last three years, we have seen a surge in real estate investments with the UK from Gulf investors looking for premium assets with steady rent returns over the long run."
