SHUAA Capital targets delivery of £2bn worth of property developments in London before mid-2022
Subsidiary Northacre’s prime projects in central London are No.1 Palace Street and The Broadway
DFM-listed asset management firm SHUAA Capital has said it will continue 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’s prime projects in London are No.1 Palace Street and The Broadway. Both are due to complete by the end of the first half of 2022.
The firm describes No.1 Palace Street as 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.
It will also unveil the first show apartment in The Broadway next month. First viewers of the three bedroom apartment on the 13th floor of the Cullinan East building will be treated to a spectacular view of Big Ben and the Houses of Parliament.
The Broadway also has 27,000 sq ft of retail space at ground level that will include a wellness ecosystem. A further 116,000 sq ft of commercial space will also be launched on the market in October.
“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, ” said Jassim Alseddiqi, group CEO, SHUAA Capital.
Walid El-Hindi, CEO of Real Estate, 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.”
