PHOTO
Gulf Islamic Investments Group (“GII”), a leading financial services powerhouse based in the United Arab Emirates has agreed an £82 million funding package led by London Wall Lending to finance the construction of its latest prime residential development on the site of the former Chelsea Police Station, London.
The luxury residential development located at 2 Lucan Place, advised and developed by GII, will comprise a seven-storey residence up to 31 residential units and two commercial units. It is due for completion in the first quarter of 2024.
Mohammed Al Hassan, founding partner and co-CEO of GII said: “This latest development is a key milestone for us in the growth of our UK business. Residential development is a key priority for us and we are aggressively looking for lucrative opportunities and partnerships in this segment in and around London.”
Pankaj Gupta, founding partner and co-CEO of GII added: “With our local presence in the UK, we see a promising future for London’s prime property market. We expect the easing of international travel restrictions and pent-up demand from affluent foreign buyers to drive significant growth.”
GII’s development arm GRID Properties will manage the development of 2 Lucan Place, which will offer residents the highest standards in quality and amenity, including a gym, concierge and valet parking. This is GII’s second venture in the London real estate development market. GRID is also currently advising on the Elie Saab Residences, Hyde Park.
The funding of the £82 million residential development loan was led by London Wall, a leading alternate real estate debt provider. This latest transaction further strengthens London Wall’s presence in the capital, following its recent £34.4 million funding to Dandi to develop 160 new residential units in Brent at the end of 2021.
Ned El-Imad, Partner at London Wall Lending, said: “The prime central London residential market continues to offer excellent opportunities for investors, despite some headwinds caused by Brexit and the pandemic. We are still seeing strong appetite for opportunities here and are encouraged by this latest transaction, which reaffirms international commitment to the UK. This deal also marks an exciting moment for London Wall Lending, representing our largest deal to date following a number of other development loans at the end of last year across the country.”
-Ends-
About GII
Gulf Islamic Investments LLC (GII) is one of the fastest growing GCC leading financial services firms. With over $3 billion of assets under management, GII seeks to create superior returns and long-term value on behalf of its investors, shareholders, portfolio companies and the communities in which it invests. Under the leadership of a committed group of prominent shareholders and investors, GII deploys private capital across a diverse set of business segments including real estate, private equity, and venture capital. GII’s client network includes UHNWIs, family offices, banks, institutions, and sovereign wealth funds in the GCC and Asia. GII is based in the United Arab Emirates and is regulated by the Securities and Commodities Authority (SCA). www.gii.ae
About London Wall Lending
London Wall Lending is an UK real estate lender, specialising in development loans between £20 – 100m across the real estate sector. London Wall has provided £400 million in funding to date and plans to deploy up to £500m in 2022. www.lwlending.co.uk
PR Contacts: -
Gulf Islamic Investments (GII)
For further information about this press release including requests for high-resolution images of 2 Lucan Place, please contact Jane Griffin | jane@positive-story.com
For general press enquiries about GII, please contact: communications@gii.ae
London Wall Lending
Francesca Kilby | Francesca.Kilby@citypress.co.uk
© Press Release 2022
Disclaimer: The contents of this press release was provided from an external third party provider. This website is not responsible for, and does not control, such external content. This content is provided on an “as is” and “as available” basis and has not been edited in any way. Neither this website nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this press release.
The press release is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Neither this website nor our affiliates shall be liable for any errors or inaccuracies in the content, or for any actions taken by you in reliance thereon. You expressly agree that your use of the information within this article is at your sole risk.
To the fullest extent permitted by applicable law, this website, its parent company, its subsidiaries, its affiliates and the respective shareholders, directors, officers, employees, agents, advertisers, content providers and licensors will not be liable (jointly or severally) to you for any direct, indirect, consequential, special, incidental, punitive or exemplary damages, including without limitation, lost profits, lost savings and lost revenues, whether in negligence, tort, contract or any other theory of liability, even if the parties have been advised of the possibility or could have foreseen any such damages.
