Rasameel Investment Company, regulated by Dubai Financial Services Authority, has successfully finalized a real estate acquisition deal, on behalf of a group of professional investors. The Company acquired “City Heights” in Cardiff, United Kingdom, for £19.4 million. The deal is structured in accordance with the provisions of Islamic Sharia.

Mohammad Al-Thaqeb, SVP – Alternative Investments, Rasameel Investment Company, said that the arrangement of this deal comes in line with the Company’s goals to invest in one of the vital and promising real estate sub-sectors in the United Kingdom, i.e., the education sector, pointing out that this was the fifth real estate deal in a series of real estate investments that the Company arranged in the purpose built student accommodation (PBSA) sector, which was launched in 2017, with the aim of creating a diversified portfolio of modern residential properties catering to student housing in the United Kingdom, to provide investors with a constant flow of investment returns.

Built in 2019, the 146-bed purpose-built student accommodation (PBSA), provides on-site amenities including an outdoor roof terrace, common room with games area, onsite gym, study space, laundry room and bicycle storage. 

He stated that the investment is expected to achieve a net annual cash return of 6%, distributed quarterly to investors during the investment period, with an expected internal rate of return (IRR) of 9-11% upon exiting the investment.