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.”

Related:
Companies
Join the Discussion

Disclaimer:The view expressed here by our readers are not necessarily shared by Arabian Business, its employees, sponsors or its advertisers.

NOTE: Comments posted on arabianbusiness.com may be printed in the magazine Arabian Business

Please post responsibly. Commenter Rules

  • No comments yet, be the first!

All comments are subject to approval before appearing

Further reading

Features & Analysis
Saudi Arabia spends money to make money

Saudi Arabia spends money to make money

Tour of Asia by Saudi Arabia's King Salman advances drive to...

Soft money: will cash transactions soon be a thing of the past?

Soft money: will cash transactions soon be a thing of the past?

The rapid digitisation of banking in the UAE is enabling robots...

Oman gains breathing space with jumbo $5bn bond sale

Oman gains breathing space with jumbo $5bn bond sale

Order books for the issue totalled $20bn, showing that Oman can...

Most Discussed
sponsoredTracking