SHUAA Capital psc (DFM: SHUAA), the region’s leading asset management and investment banking platform, continues to build on its successful investment strategy in the UK property market with plans to complete and deliver £2 billion worth of property projects in London through its wholly-owned subsidiary Northacre.
Northacre is currently focused on completing its two key projects, No.1 Palace Street and The Broadway, both of which are due to complete simultaneously between the end of 2021 and in first half of 2022. No.1 Palace Street is one of London’s most coveted addresses, uniquely located opposite Her Majesty’s official London residence, offering unrivaled views towards the Palace and its private gardens. Northacre recently announced its collaboration with Walpole and No.1 Palace Street for it’s next show apartment – House of Walpole, The Home of British Luxury Craftsmanship, will bring together Britain’s best luxury brands within one ultra-luxurious space.
In October, Northacre will unveil the first show apartment in The Broadway – a spectacular three bedroom apartment on the 13th floor of the Cullinan East building overlooking Big Ben and the Houses of Parliament. In addition, 116,000 sq ft of commercial space will also be launched on the market in October. The Broadway also has 27,000 sq ft of retail space at ground level that will include a wellness ecosystem.
Jassim Alseddiqi, Group CEO of SHUAA Capital, said: “As a major investor in the prime London property market, we are delighted that the fruits of our long-term vision are now becoming a reality. “
Walid El-Hindi, CEO of Real Estate at SHUAA Capital, added, “The significant growth of SHUAA’s real estate portfolio in the United Kingdom reflects its effective strategic vision to create opportunities that deliver long term value with high returns. We look forward to exploring further opportunities in line with our strategy and investing in the UK and embarking on many more world-class developments.”
UK-based super-prime property developer Northacre has more than 30 years of experience in the real estate sector, managing £2 billion worth of property projects and has completed 10 luxury residential projects in the heart of London covering more than one million square feet.