Gateway agrees £17.92 million sharia compliant investment
Gatehouse, a UK based wholesale investment bank operating in accordance with Sharia principles, has announced the completion of their terms for the financing of the Blakelands Industrial estate, located in the Milton Keynes. The Saudi based SEDCO Capital is the purchaser and intends to spend £100 million into UK real estate market over the next 12 months. Gatehouse Bank is active in the real estate market within the UK, having earlier created a new position within the organisation of Head of Real Estate Investment. Last year it worked on a joint venture with Sigma Capital for the construction of an initial 927 new rental homes, with a total development cost of approximately £110 million. It is also involved in real estate projects in the Midlands and North of England. Islamic finance investors are taking a keen interest in UK real estate by funding a number of high profile projects. Europe’s tallest building, the Shard in London was financed by a Qatari consortium, and a consortium comprising Qatari Diar Real Estate and Investment, and the Candy brothers’ CPC Group, bought the 5.2-hectare Chelsea Barracks site for £959 million.