Kuwaiti firms launch European advisory company

WW Advisors has been established by Wafra InterVest Corporation and Watheeqa Holding to advise global clients on investment into property. David Swan, a former Tishman Speyer Properties director and most recently at Middle Eastern private equity firm Arcapita, has joined as managing director.

Two Kuwaiti companies have launched a UK-based real estate advisory business.

Wafra InterVest Corporation, which is an investment manager owned by the Public Institution for Social Security in Kuwait, and Watheeqa Holding Group, a boutique investment group for private and listed organisations, has formed WW Advisors as a boutique real estate advisory services firm based in London.

It is providing property-related advice on transactions and financing throughout Europe, it said in a statement.

Former Tishman Speyer director in London, David Swan, has joined as managing director. Following a stint at Tishman Speyer, he joined Middle Eastern private equity firm, Arcapita, where he led real estate acquisitions in the logistics, residential and senior living sectors on the Continent.

In a statement, Swan said the firm had recently been appointed by a newly-formed €225 million Gulf-backed real estate company looking to invest in Europe.

He said there were significant market opportunities across Europe. “Although the initial focus is likely to be in the UK, our remit is definitely pan-European,” he added.

“Recent falls in the values of real estate across Europe mean that existing investors are seeking to restructure their financing or portfolios, while new funds are entering the market. Many of the latter are or will be Shariah compliant investors.”