Qatar's QInvest exits $62m luxury London homes project

Qatar-based Islamic investment bank says St John's Wood project fund generated 22% returns to investors

(Photo for illustrative purposes only)

(Photo for illustrative purposes only)

QInvest, the Qatar-based Islamic investment bank, has announced its exit from the St Edmund’s Terrace LP Fund which invested £50 million in a new luxury residential project in London.

The fund, which was jointly owned by QInvest and a range of GCC institutional and retail investors, was created to allow investors to invest in London’s prime residential market.

QInvest said in a statement that the fund generated 22 percent net returns to investors, which is in excess of initial projected returns.

The project, 50 St Edmund’s Terrace, is located in the heart of London’s affluent neighborhood, St John’s Wood and was completed in June 2015, comprising three residential blocks and 37 units.

It delivered an average selling price in excess of £2,600 per square foot, the statement added.

Tamim Hamad Al-Kawari, CEO 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.

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

Craig Cowie, head of real estate at QInvest, added: “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.”

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