Dimah Capital, a Kuwait based investment firm, has announced its first acquisition of a real estate in Britain for $70 million.
They acquired the students' village of Parham Road in Canterbury, consisting of 16 buildings of student housing. Dimah Capital, with Sameer Al Gharaballi as Vice Chairman and Managing Director, used to be called Beyoo Investment and is majority owned by Al Imtiaz Investment which is also a Kuwait based investment firm.
Al Imtiaz Investment is listed in the Middle East Investors Directory with the code BFD16.
More details follows:
Dimah Capital Investment has announced its first acquisition of an income-generating real estate in Britain for $46m pounds sterling, with attractive returns, invested in the area of students' accommodation.
Commenting on the signing of this deal, Mr. Sameer Al Gharaballi, the Vice Chairman and Managing Director of Dimah Capital Investment, said, "We are pleased to announce our first real estate deal in Britain through which Dimah Capital acquired the students' village of Parham Road in Canterbury, consisting of 16 buildings of student housing with an accommodation capacity of 800 beds."
Mr Al Gharaballi added, "This transaction will provide investors with an average net cash return of 8.2% per annum, to be paid monthly, and the net internal return rate will reach 13.3% during the 3-year holding period."
Mr Al Gharaballi noted, "The acquisition of this portfolio is a very good deal, as the acquired real estate is generating income in Britain with good growing returns. This opportunity was provided to Dimah Capital exclusively from outside the market by a local owner who had worked on developing this property during the past eight years, and the majority of these properties are residential with a 100% occupancy rates since they were built eight years ago."
Both Dimah Capital Investment and 90 North Real Estate Co., Ltd., working in the real estate sector compatible with the Islamic law, and having a great experience in students' accommodation sector, will be the investment advisers for this deal, according to Mr Al Gharaballi.
He further explained, "This acquisition is part of a well-advised plan to expand and diversify the real estate investment portfolio of Dimah Capital through the purchase of real estate properties generating fixed and stable returns and having a low risk rate, in line with the current developments in the international markets, and to meet the aspirations of the shareholders and investors."
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