Dubai/Abu Dhabi, UAE: Abu Dhabi Islamic Bank (ADIB), in collaboration with Emirates NBD, has closed a £121-million, five‑year club financing facility for Union Property to refinance the Pullman London St Pancras. This 50/50 club deal marks the second deal between the two financial institutions, strengthening their presence in the UK real estate market.

The Pullman London St Pancras is a highly regarded four‑star accommodation operated under the Pullman brand by Accor, one of the world’s leading hospitality groups. The property has 312 rooms and benefits from a long‑standing operating and leasing arrangement with Accor spanning more than two decades.

Located in Central London, the property occupies a prime position adjacent to three of the city’s most important transport hubs – St Pancras International, King’s Cross and London Euston stations, providing exceptional connectivity via national rail services, the London Underground and international Eurostar routes. In addition, the property benefits from proximity to a wide range of business, leisure and event‑driven demand generators, underpinning sustained demand from business, leisure and conference travellers.

Raj Sehgal, Managing Director at Union Property, commented: “This transaction strengthens our relationship with Emirates NBD and ADIB, and marks our second major property deal together. Their teams bring strong market insight and have proven to be great partners to Union Property, which is key as we continue to strengthen our portfolio of assets.”

Paul Maisfield, UK Chief Country Officer at ADIB, said: “We’re pleased to have successfully closed this transaction alongside Union Property and our partners at Emirates NBD, marking the second club deal between ADIB and ENBD and our second transaction together with Union Property. This repeat collaboration reflects strong alignment across all parties. ADIB remains focused on financing high‑quality assets with resilient fundamentals and long‑term income visibility. Pullman London St Pancras meets these criteria through its prime central London location, exceptional transport connectivity and long‑standing operation by a globally recognised hospitality brand. Our investment approach continues to prioritise asset quality and sector‑specific supply and demand dynamics, reflecting ADIB’s disciplined and resilient capital allocation strategy.”

Raashed Amin, CEO UK at Emirates NBD, said: “We’re pleased to have led this transaction for Union Property Services with ADIB, marking our second club deal together. It reflects our focus on high-quality real estate in London, working with experienced partners and assets that offer strong long-term fundamentals. The Pullman London St Pancras is a strong example – combining a prime location, excellent connectivity and the backing of a leading global hospitality brand.”

Carlo De Vos, Head of Corporate & Institutional Banking in the UK at Emirates NBD, said: “Our real estate team remains focused on supporting experienced counterparties and well-located assets with a proven track record. We continue to prioritise opportunities in the hotel sector that are backed by strong fundamentals and established operators. This transaction highlights our ability to work closely with partners such as Union Property Services and ADIB to deliver complex financing solutions.”

ADIB has built a strong and well‑established track record in UK commercial real estate financing, supported by a long‑standing on‑the‑ground presence and a disciplined, sector‑focused approach. Through its UK office, the bank has financed a broad range of high‑quality assets across offices, hospitality, logistics, living‑sector and mixed‑use developments, consistently prioritising income durability, tenant quality and structural resilience. This transaction further reinforces ADIB’s position as a trusted long‑term financing partner for regional and international clients investing in the UK market, reflecting its ability to deploy capital selectively across market cycles.

 UK hotel investment activity has shown some momentum in 2026, with higher transaction volumes compared to the prior year. Against this backdrop, investor focus continues to centre on well‑located, high‑quality assets with resilient income characteristics and clear sector‑specific supply and demand fundamentals, supported by a gradually strengthening debt environment.

Legal advisory for Emirates NBD was provided by Osborne Clarke, while ADIB and Union Property were advised by Foot Anstey and Muckle LLP, respectively.

About Abu Dhabi Islamic Bank PJSC (“ADIB”)

ADIB is a leading bank in the UAE with AED 281 billion in assets. The bank also offers world-class online, mobile, and phone banking services, providing clients with seamless digital access to their accounts 24 hours a day. ADIB provides Retail, Corporate, Business, Private Banking, and Wealth Management Solutions.

The bank was established in 1997, and its shares are traded on the Abu Dhabi Securities Exchange (ADX). ADIB has a strong presence in five strategic markets: Egypt, where it has 75 branches, the United Kingdom, Qatar, and Iraq.Named World’s Best Islamic Bank by The Financial Times by The Banker publication, ADIB has a rich track record of innovation, including introducing the award-winning Ghina savings account, award-winning co-branded cards with Emirates airlines, Etihad, and Etisalat and a wide range of financing products.


For media information, please visit www.adib.ae or contact:
ADIB
Lamia Khaled Hariz
Weber Shandwick
adib@webershandwick.com