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Rasmala Investment Bank Limited, the Middle East’s leading alternative investment manager, has announced the launch of a five-year UK multi-family residential strategy to build a residential property portfolio in the UK with an investment value of over US$2 billion.
The strategy targets the UK multifamily market through a Sharia-compliant investment vehicle, with an initial focus on the serviced apartments and build-to-rent (BTR) sub-sectors in and around London.
It has been seeded by Rasmala Group and has an active investment pipeline for the next 12-18 months.
As well as the two residential apartment buildings, the strategy also benefits from a controlling stake in Red Apartments Limited (RAL), a leading operator managing nearly 500 residential units in and around London. RAL is led by an experienced management team with a 25-year track record in managing serviced apartments.
Chief executive Eric Swats unveils its big plans: “Our UK multifamily strategy builds on Rasmala’s track record of matching GCC investors with UK real estate opportunities. Our The seed investment, which includes RAL, reflects our commitment to be the partner of choice for the UK living sector, starting with the serviced apartments and build-to-rent (BTR) sub-sector.”
Founded in 1999, Rasmala is a leading alternative investment manager investing directly and alongside institutional investors in the Gulf region, including banks, pension funds, endowments, family offices, corporates and government agencies.
Its headquarters are located in the Dubai International Financial Center, regulated by the Dubai Financial Services Authority, and is a wholly-owned subsidiary of the Rasmala Group.
Dominic Sherry, chief executive of RAL, said: “A new generation of renters is delaying property purchases due to affordability concerns. We see a huge opportunity to grow our build-to-rent brand to complement our serviced apartment brand.”
He added that the Rasmala UK Multifamily strategy builds on the group’s property investment experience in the UK, Europe and North America.-TradeArabia News Service
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