Rasmala Investment Bank Limited, a leading alternative investment manager in the Middle East, has announced the launch of a five-year UK multifamily strategy to create a portfolio of residential properties in the UK worth more than $2 billion in investment value.

 

The strategy targets the UK multifamily market through a shariah-compliant investment vehicle, with an initial focus on the serviced apartment and build-to-rent (BTR) subsectors in and around London.

 

It has been seeded by the Rasmala Group and has an active investment pipeline over the next 12-18 months.

 

In addition to two residential apartment blocks, the strategy benefits from a controlling stake in Red Apartments Limited (RAL), a leading operator managing nearly 500 residential units in and around London. RAL is led by an experienced management team with a twenty-five year track record in managing serviced apartments.

 

Unveiling its big plan, CEO Eric Swats said: "Our UK multifamily strategy builds on Rasmala's track record of matching GCC investors with real estate opportunities in the UK. Our seed investment including RAL reflects our commitment to being the partner of choice in the UK living sector, beginning with the serviced apartment and build-to-rent (BTR) sub-sectors."

 

Established in 1999, the Rasmala is a leading alternative investment manager which invests directly and alongside Gulf-based institutional investors including banks, pension funds, endowments, family offices, corporations and government institutions. 

 

It is based in the Dubai International Financial Centre and regulated by the Dubai Financial Services Authority, and is a wholly owned subsidiary of the Rasmala Group.

 

RAL Chief Executive Officer Dominic Sherry said: "A new generation of renters are delaying moving onto the property ladder due to affordability concerns. We see considerable opportunity to grow our build-to-rent brand as a complement to our serviced apartment brand."

 

The Rasmala UK Multifamily strategy builds on the group's real estate investment experience in the UK, Europe and North America, he added.-TradeArabia News Service