Doha, September 16 (QNA) – Qatar First Investment Bank (QFIB) announced the acquisition of two properties in prime locations in Central London – The Leinster Inn Hotel at Leinster Square, and Westbourne House, Westbourne Grove, London. QFIB has acquired these prime properties in association with a consortium of investors from the GCC, the bank said Sunday in a press release.
The objective of these acquisitions is to capitalize on the growing demand for real estate in Central London by converting both properties into high-end luxury residential apartments, it said.
Speaking in the occasion, Emad Mansour, CEO of QFIB has expressed pleasure over these two acquisitions in spite of the fact that they are outside our target geographical market.
“Due to the growing global demand for London’s prime residential property sector, these deals presented themselves as an attractive opportunity for QFIB to enter the UK market.,” he said.
The Leinster Inn is a grade II building that dates back to 1857. This terraced building spans 31,500 square feet and is located in the heart of the Bayswater Conservation Area in the City of Westminster.
Located in nearby Westbourne Grove is Westbourne House, a 1980’s office building, which features 35,047 square feet of high quality office and retail space.
QFIB is a pioneering Islamic investment bank launched in 2009 with an authorized capital of QAR 3.65 billion (US$ 1 billion) and a paid up capital of QAR 1.6 billion (US$ 430 million) providing the financial strength to capitalize on lucrative investments.
Adopting an investment strategy that centers on sector and geographical diversification, QFIB focus on sectors that benefit from key drivers of economic change these include energy, financial services, industrials, real estate and health care services. (QNA)