2023-11-11 17:29:01
Abu Dhabi Islamic Bank continued to grow its UK commercial real estate finance portfolio with new financing assets worth more than £100 million ($127.57 million) during the first six months of this year.
Several financing deals were signed, including providing structured financing for 343 shared housing units in the North Acton area in west London, a 400-room hotel in the vicinity of Gatwick Airport, a Class A office building with an area of 133,000 square feet in the Guildford area, and an office building for national headquarters. A major building on an area of 153,000 square feet in the Newport area, Wales.
The bank succeeded in providing regulated Islamic financing solutions to a selected group of customers, which provided more new opportunities for refinancing and acquisitions.
The commercial real estate market in the United Kingdom has witnessed a significant correction over the past 12 months, in terms of capital values, due to the rise in the value of rates, and this has affected investment activity, especially in light of the strong demand from investors for the residential sectors, especially in places High quality student accommodation and rental properties, which deliver positive results according to standards, and stimulate significant rental income growth.
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