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QInvest exits prime London property fund

DOHA, February 19, 2017

Qatar’s leading Islamic investment bank QInvest said it has successfully exited St. Edmund’s Terrace LP Fund, a prime London Sharia’a residential real-estate fund, after netting 22 per cent returns for its investors.

The fund was jointly owned by QInvest and a range of GCC institutional and retail investors.

The Qatari bank had invested £50 million ($62.4 million) for developing a new, prime residential project through a real estate development company.  

The project, 50 St. Edmund’s Terrace, is located in the heart of London’s affluent neighborhood, St John’s Wood, to the North of Regent’s Park and adjacent to Primrose Hill, said a statement from the Qatari lender.

The project, which was completed in June 2015, comprises three residential blocks and 37 units. It delivered an average selling price in excess of £2,600 ($3,246) per sq ft, largely due to the quality of the development and amenities, which have set a new benchmark in the area.  

QInvest pointed out that the fund was created to provide investors with the opportunity to invest in London’s prime residential market.

On completion, the fund generated 22 per cent net returns for its investors, which is in excess of initial projected returns in the Fund’s Private Placement Memorandum (PPM), said the company in its statement.

QInvest CEO Tamim Hamad Al Kawari 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."

"We identify investment opportunities in these markets, structure efficient investment solutions, and execute, doing so whilst taking a long-term investment view. The beautifully-designed real estate asset we leave behind upon exiting this Fund is testament to our investment approach and philosophy."

"We look forward to returning to the market with similar investment opportunities in the near future," he noted.

Craig Cowie, the head of real estate at QInvest, said this Fund demonstrates the strong structuring and execution capabilities of its team.

"The returns it generated to our investors have exceeded expectations, and the project has not only positively impacted the neighbourhood, but also added a notable asset to the luxury real estate market in London," observed Cowie.

"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," he added.-TradeArabia News Service




Tags: London | residential | QInvest | Property fund |

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