NCB Capital Awards Fidelity Shariah-Compliant Real Estate Mandate
Posted on 04/05/2017
Middle East and Asian investors are cherry picking real estate investing in the core euro-zone region, seeking income-producing properties. NCB Capital, the investment banking division of Saudi Arabia-based National Commercial Bank, awarded a real estate mandate. The mandate was awarded to Fidelity International to invest in European core real estate. The mandate is worth US$ 300 million and will target assets in Germany, United Kingdom, France and the Benelux region. Of the US$ 300 million, only US$ 150 million in equity is first being contributed.
The allocation will target investments in the US$ 20 million to US$ 60 million range, focusing on retail, office and logistic properties. The mandate is also Shariah-compliant.