The UAE-based Gulf Islamic Investments (GII), a Shariah-compliant global financial services firm, said it has acquired a residential development in London’s premium West End.

The property, overlooking Hyde Park, marks GII’s second property development venture in the UK and takes the total value of GII’s investments in the UK property development sector to approximately GBP 250 million ($344 million).

The acquisition is consistent with GII’s focus on acquiring high quality real estate assets in developed markets, GII said in a statement. It didn’t mention a value for the acquisition.

GII has nearly $2 billion of assets under management and is regulated by the Securities and Commodities Authority (SCA).

(Writing by Brinda Darasha; editing by Daniel Luiz)

brinda.darasha@refinitiv.com

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