Gulf Islamic Investments acquires residential development in London's West End, expanding firm's global realty portfolio

-The acquisition of the under-development residential project marks a 55% increase in square footage of the firm’s UK development portfolio in Q1 2021

-Gulf Islamic Investments expects to invest an additional USD 400 Million globally, placing the firm on track to achieving a total AUM of $3 billion by the end of 2021

LONDON: Gulf Islamic Investments (GII), a leading Shari’ah-compliant global financial services firm, today announced it has acquired a residential development situated in London’s premium and sought-after West End. The acquisition is consistent with GII’s focus on acquiring high quality real estate assets in developed markets.

The property - located on Bayswater Road and overlooking Hyde Park - marks GII’s second property development venture in the UK and represents an increase of 46% in the total value of GII’s investments in the UK property development sector, amounting to approximately GBP 250 million.

Mohammed Alhassan, Founding Partner and Co-CEO of GII commented: “This transaction is our third acquisition in London and serves as a complementary addition to GII’s high-end and prestigious realty portfolio in the UK. This development will set a new benchmark for distinctive residential living in London. We look forward to growing GII’s real estate portfolio in the UK and acquiring premium assets on behalf of our investors.”

Pankaj Gupta, Founding Partner and Co-CEO of GII commented: “This acquisition demonstrates our growing property development footprint in London and further strengthens our globally diversified portfolio. Through this well-positioned project, GII will deliver a signature residential development that is thoughtfully designed for buyers seeking exceptional homes with exquisite finishes. We will continue to strategically expand our property development portfolio, while providing our investors with exposure to developed markets.”

GII Real Estate Development (GRID), a GII subsidiary will oversee the development of the site. Shreen Gupta, CEO of GRID commented: “This new development is a welcome addition to GII’s rapidly expanding portfolio in London and coincides well with the overall market sentiment. The project is in line with the latest residential requirements for homes in Central London and shall be built to superior quality standards.

The new-build project is located opposite Hyde Park and slated for completion in late 2021. The low-rise development will offer a uniquely designed collection of units - ranging from one bedroom apartments to duplex penthouse residences with panoramic views of Kensington Gardens and Hyde Park. The acquisition is subject to certain administrative requirements, currently in progress. For purposes of confidentiality pertaining to this transaction, the name of the residential development is being withheld at the present time.

In addition to this latest acquisition, GRID is overseeing GII’s debut project as a property developer in one of London’s most elite neighborhoods: 2 Lucan Place situated off Kings Road, in the heart of Chelsea. 2 Lucan Place is scheduled for completion towards the end of 2022.

For more information on Gulf Islamic Investments, please visit www.gii.ae 

For more information on GRID, please contact Shreen Gupta at shreen.gupta@giirealestate.ae 

For high-resolution images of the development, GII leadership and logos, please see: https://bit.ly/3mHljq4

For media enquiries, please contact Natasha D’Souza at communications@gii.ae 

About Gulf Islamic Investments

Gulf Islamic Investments LLC (GII) is one of the world’s leading Shari’ah-compliant financial services firms. With nearly $2 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, 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).

About GII Real Estate Development

GII Real Estate Development (GRID) is the property development and management division of Gulf Islamic Investments (GII), a leading Shari'ah compliant global financial services firm. Current new-build developments include 2 Lucan Place, located in London’s Royal Borough of Kensington and Chelsea and multiple developments in Dubai across asset classes such as residential, retail, executive accommodation and logistics facilities.

© Press Release 2021