Islamic Financing Funds CityCenterDC

City Center DC

City Center DC

The massive CityCenterDC is an eight-acre mixed-use development in downtown Washington, near the old Washington Convention Center. A few blocks east of the White House, the US$ 700 million first phase of the project secured some financing from Qatari Diar, a real estate subsidiary of the Qatar Investment Authority. Financing of the development project was arranged by Barwa Bank’s investment bank subsidiary, The First Investor QSCC. The First Investor launched an investment fund called the TFI US Real Estate Fund. The TFI US Real Estate Fund and Hines are developing the property.

In early June, The First Investor QSCC raised around US$ 390.7 million by means of Islamic financing to fund the project’s construction. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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