Dubai-based Shuaa Capital said it has along with Northacre - a leading super-prime developer in London with over 30 years of experience in creating exceptional living spaces - has successfully completed a five-year portfolio management through its subsidiary, Astrea, in London.
Announcing the key achievement, Shuaa Capital said with the commencement of portfolio management responsibility in 2017, it has along with Northacre consistently delivered best-in-class investment, property development and management services to the distinguished properties incorporating benchmark sustainability and environmental standards.
During the five-year mandate, Shuaa and Northacre successfully managed the multi-billion-pound portfolio, helped in building a strong management team with exceptional experience in real estate, and contributed to sustainable and consistent growth.
The successful portfolio management has resulted in robust performance for the Prime Central London mixed-use portfolio which comprises prestigious properties, with the majority of the assets located in Mayfair, Knightsbridge and Oxford Street.
Following the successful completion of Shuaa and Northacre’s mandate, portfolio management has been delivered to the client as planned, supported by an expert leadership team that was chiefly recruited by Shuaa.
According to Shuaa, the portfolio management builds on the track record established by its real estate platform, Northacre, as a global leader in real estate development and asset management.
Shuaa Capital Group CEO and Northacre Director Fawad Tariq Khan said: "We are delighted to successfully complete our management of the portfolio through our subsidiary Astrea as we embark on the next chapter of our growth story."
"Northacre's focus moving forward is to continue funding, developing, and managing a diverse and unique portfolio of projects in the UK and the Middle East with a key focus on sustainability," noted Khan.
"We look forward to building on our years of experience, expertise, and track record to bring together a mix of profitable investments, assets, services, and real estate projects that share a common mission to achieve ambitious and practical environmental, wellbeing, social and economic goals for people and businesses," he added.
According to him, the completion of the portfolio management aligns with a new era of growth and development for Shuaa and its real estate platform, Northacre.
The company is currently developing a diverse and unique portfolio of projects across the UK and the GCC in excess of $3.6 billion alongside its investment and asset management platforms.
Last year, Northacre announced project completion for its landmark London scheme The Broadway in the heart of Westminster, SW1. In addition, Northacre launched the Ocean House, a development that will bring an exclusive collection of oceanfront residences to Palm Jumeirah off the Dubai Coast.-TradeArabia News Service