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QInvest exits Sharia-compliant fund

QInvest exits Sharia-compliant fund
A previous general meeting of QInvest (Photo credit: Company website)

Mubasher: QInvest exited the Sharia-compliant St. Edmund’s Terrace LP Fund, according to a statement.

The fund, which was owned by QInvest and a range of GCC institutional and retail investors, invested GBP 50 million into developing a new residential project through a real estate development company in London. 

The project, 50 St. Edmund’s Terrace, was completed in June 2015, delivering an average selling price in excess of GBP 2,600 per square foot. 

The fund was created to give investors the opportunity to invest in London’s prime residential market. It generated 22% net returns to investors at completion.

“Our team continues to invest in additional projects and we have subsequently closed on a number of high profile real-estate transactions including One Wall Street in Manhattan (NYC, US), the purchase of a yielding German retail portfolio, and multifamily assets in the US,” according to Craig Cowie, head of real estate at QInvest.