Sidra Capital, a shari'ah-compliant asset manager based in the region, has acquired a prime commercial freehold building in Hertford Street, Mayfair, thus demonstrating its confidence in capital London and the UK post Brexit and Covid-19.
The off-market transaction was acquired on an all equity basis in a very short time frame, said the company in a statement.
Sidra Capital offers global reach and outlook and has been an active player in the UK real estate scene since 2011.
With a fully integrated platform and dedicated London office established in 2017, the company offers investors direct access into the UK and European property markets.
On its key acquisition, Chairman Hani Baothman said: "We are delighted to acquire this strategic property in Mayfair which complements our existing UK portfolio. When the business plan is completed it will deliver the right type of space that occupiers will need post Covid-19."
"We remain positive on the UK real estate market which provided an advantageous entry point due to the value of Sterling dropping 18 percent since the Brexit referendum," noted Baothman.
"With an existing portfolio amounting to GBP 1bn in the UK and capital ready to deploy, we continue to look at a number of yielding and value-add opportunities across the UK and mainland Europe," he added.-TradeArabia News Service