03.05.2012 - Saudi - UK GBP 100 mln Fund closes with first Real Estate transaction
Sidra Capital (Sidra), a CMA regulated Shariah compliant financial services company based in Saudi Arabia and Gatehouse Bank (Gatehouse), an FSA regulated UK-based Shariah compliant bank specialising in UK real estate, have announced the first closing of The Sterling United Kingdom Real Estate Fund (SURF) and their first property acquisition in Cambridge, UK at GBP23.55m. SURF aims to complete purchases in the Shariah compliant commercial real estate in the UK. The Fund will acquire a diverse real estate portfolio which covers the office, retail, logistics, student accommodation and light industrial sectors, to reach its target equity size of GBP 100 million. (Press Release)