QInvest exits London realty fund
19 Feb 2017 - 22:29
By Satish Kanady / The Peninsula
QInvest, Qatar’s leading Islamic investment bank and one of the region’s prominent Islamic financial institutions, yesterday announced exiting the St. Edmund’s Terrace LP Fund (the “Fund”). The Fund, which was structured in a Sharia’a compliant manner, was jointly owned by QInvest and a range of GCC institutional and retail investors. It invested £50m into developing a new, prime residential project through a real estate development company.
The Fund was created to provide investors with the opportunity to invest in London’s prime residential market. At completion, the Fund generated 22 percent net returns to investors, which is in excess of initial projected returns in the Fund’s Private Placement Memorandum (“PPM”).
The project, 50 St. Edmund’s Terrace, is located in the heart of London’s affluent neighborhood, St John’s Wood. Tamim Hamad Al-Kawari, Chief Executive Officer of QInvest, said: “We are very pleased with the performance of the Fund. QInvest has a successful track record in providing investors with access to investments in international markets offering above-market risk-adjusted returns."