UK student housing demand supply gap ‘supports positive outlook for rental income and capital growth’
Bahrain-based Islamic lender, Seera Investment Bank has concluded a Shari’ah-compliant structured financing facility for a new purpose-built student housing project and commercial property in Central London.
Upon completion in 2013, the property will offer 339 student rooms and 3,437m2 of commercial space. Construction of the property, which is located near Aldgate East station in Central London and in close proximity to several higher educational institutions, is progressing on schedule with the first phase having just been completed, the firm said.
“The UK student housing sector demand supply gap supports a positive outlook for rental income and capital growth,” said Seera’s chairman, Khalid Al Nasser.
“This particular deal is underpinned by the property’s prime location, attractive investor returns, relatively short investment tenure and favourable risk profile,” he added.