Investors increasingly targeting London property market with Shariah-compliant funds
Interest in Shariah-compliant investment in the UK property market is showing signs of strong growth, with several hundred million pounds of investment potentially on the way into the market over the next year.
Among those currently raising money for investment is London Central Portfolio (LCP), which has been running an investor roadshow in Southeast Asia in recent weeks, holding meetings with local banks around the region. It is seeking to raise £100 million by the end of March for its London Central Apartments III fund, which will invest in the private rented sector in the UK capital.
Naomi Heaton, CEO of LCP, says the combination of a Shariah-compliant fund and the reputation of the London property market is proving to be a compelling one. “We’ve spoken to a wide variety of banks in Malaysia, Singapore and Hong Kong. A lot of them will come on board,” she says.
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Dominic Dudley