UAE's Shuaa Capital set to deliver $2.7bln property in London

Two projects set to be completed by H1-2022

SHUAA Capital Logo.

SHUAA Capital Logo.

SHUAA / Handout via Zawya

UAE-based Shuaa Capital, which has $14 billion in assets under management, said it plans to complete and deliver GBP2 billion ($2.7 billion) worth of property projects in London through its wholly owned subsidiary, Northacre.

In a statement on Monday to the Dubai Financial Market where its stock trades, Shuaa Capital said Northacre is currently focused on completing its two key projects, No.1 Palace Street and The Broadway, both of which are due to complete simultaneously between the end of 2021 and in first half of 2022.

Following its merger with Abu Dhabi Financial Group (ADFG) in 2019, Shuaa Capital has expanded its real estate business. The UK-based property developer Northacre manages GBP2 billion worth of property projects.

 (Writing by Brinda Darasha; editing by Daniel Luiz)

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