Abu Dhabi: Abu Dhabi Islamic Bank (ADIB), a leading financial institution, has arranged a structed Islamic financing transaction to fund the acquisition of The Hub, located at the Aztec West Business Park, Bristol  for £19.35 million on behalf of a private Saudi based client.

The Hub is a regional UK office for Atkins, one of the world’s largest multinational design, engineering and project management consultancies. The building has been awarded a BREEAM excellent rating, the UK’s most widely used environmental assessment for buildings, and overall carbon emissions are more than a third lower than expected for a building of its size.

Commenting on the fund, Paul Maisfield, Head of UK Real Estate at ADIB UK, said: “We have witnessed an increase in demand amongst our GCC based clients seeking to diversify their portfolios into UK real estate with a particular interest in investments offering long-term secure income both in London but increasingly in the regions  with strong market fundamentals and higher yields. ADIB appreciates the value of building strategic partnerships with investors in international markets, which enable us to extend our global reach and to identify similar opportunities in London and other key  locations for our clients.”

Paul Maisfield, added : “We have worked closely and effectively with our valued client to provide a bespoke funding solution for this latest transaction. We are very pleased to be supporting the acquisition of this high-quality asset. We have established a strong platform for further business in the UK as we build out our portfolio of financing assets across the UK.”

ADIB opened its office at One Hyde Park in London in May 2012, and was the first UAE-based bank providing Islamic financial services to be licensed to operate in the UK, being one of just six of these that are fully Sharia-compliant.

About ADIB

ADIB UK, a wholly-owned subsidiary of Abu Dhabi Islamic Bank PJSC, is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Commercial Real Estate Financing and Residential Investment Financing (non-consumer) are not regulated products under the Financial Services and Markets Act 2000 and therefore are not authorized or regulated by the Financial Conduct Authority or the Prudential Regulation Authority.

© Press Release 2018