Over the last two years the bank has catered to a growing demand for commercial property in the UKby Kudakwashe Muzoriwa
Abu Dhabi Islamic Bank (ADIB UK) has provided a combined AED 320 million (GBP 66.6 million) Shari’ah-compliant structured financing to refinance a AED 900 million (GBP 187.7 million) prime central London healthcare facility and the acquisition of a AED 55 million (GBP 11.5 million) logistics hub in Edinburgh for private Abu Dhabi and Bahrain-based clients respectively.
Paul Maisfield, the Head of UK Real Estate at ADIB UK, said, “We expect to witness good growth in our real estate financing business in the UK during 2020.”
The lender stated that the London property comprises one of the most established private healthcare facilities in the UK capital and is operated by an international healthcare group while the Edinburgh property consists of a distribution warehouse and office facility situated in South Gyle Industrial Estate.
Over the last two years, the Shari’ah-compliant bank has catered to a growing demand for commercial property investments in London and other major regional cities such as Bristol, Leeds and Manchester.
In August 2019, ADIB UK financed The Bank of London and the Middle East’s acquisition of an AED 120 million ( GBP 26.95 million) office building in Edinburgh. Additionally, the lender also provided financing to Saudi Arabia’s Cedar Tree Investments to acquire a AED 280 million (GBP 39 million) residential portfolio in Manchester.