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)
Disclaimer: This article 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. Read our full disclaimer policy here.
© ZAWYA 2021