Flip through the latest issue of Gulf Weekly.
Fund buys BD44 million UK properties portfolio
A pan-European Islamic Real Estate Fund, sponsored by European Islamic Investment Bank (EIIB), purchased a £58.8 million (BD44.22 million) portfolio of five UK commercial properties.
The deal – believed to be the first Sharia compliant real estate transaction involving two Islamic institutions based in the UK – comes as the fund begins a capital raising process which aims to attract between euros 200 million and 500 million of investor funds. The properties have been held for the past three years in a Sharia compliant fund, co-sponsored by ABC International Bank (a subsidiary of Arab Banking Corporation) and Global Securities House WLL.
Sabre appointment
Sabre Travel Network appointed Giuseppe Caputo to the newly-created airline sales director role as part of its strategy to shift responsibility for airline sales and account management from its Europe, Middle East and African headquarters in London to regional centres across Europe and the Middle East. Based in Bahrain, Mr Caputo, above, is responsible for carriers located in the Middle East.
