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UAE’s Gulf Islamic Investments acquires $188m office property in Birmingham

UAE’s Gulf Islamic Investments acquires $188m office property in Birmingham
GII’s portfolio in the UK is worth GBP 330 million

UAE – Mubasher: Gulf Islamic Investments LLC (GII), a leading financial services company based in Dubai, announced it has acquired an office property in Birmingham, the UK, for around GBP 149 million ($188 million) on behalf of its investors.

The Birmingham property is comprised of two adjacent buildings: “Priory Court” and “Lewis Building”, according to a press release.

Each building has offices, retail, and entertainment areas on the ground floor, multi-let on long-term leases to credit-worthy tenants, GII said, pointing out that the UK Government is its major tenant.

Mohammed Al-Hassan, Co-Founder and CEO GCC of GII, said: “Birmingham benefits from a globally integrated transport system including the upcoming HS2 - UK’s single most significant infrastructure project scheduled to be operational by 2026.

“In addition, the city’s strong economic performance in recent years places it as No.1 in the UK for new business start-ups, investment prospects outside of London and quality of life,” Al-Hassan added.

The company’s portfolio in the UK is worth GBP 330 million ($420 million), “distributed among income-generating properties leased to high-net-worth companies.”

Investors benefit from GII's investments in the UK with returns at 8% per annum, the release noted.