Bahrain-based bank Oasis Capital has struck a five year funding deal with UK student accommodation provider Unite Group in a further sign that Middle Eastern investors are increasing their appetite for UK real estate.
Unite said Oasis Capital Bank, which is led by chairman Sheikh Mohammed Issa Mohammed Al Khalifa, has invested £39 million ($64 million; €45 million) for a 75 percent stake in a joint venture which will develop three development schemes, all in London. Unite has retained the remaining 25 percent in the venture.
According to the announcement, the three schemes, will provide 1,119 beds when completed, and have an estimated value of £194 million.
The investment by Oasis Capital is the latest in a string of investments by Middle Eastern investors in London and the UK.
In recent months the Oman Investment Fund spent £475 million on a 75 percent stake in London-based developer Hammerson’s Bishop Square development in the City of London while Al Salam Bank shelled out £127 million on another office building, Milton Gate, from the UBS Triton Fund.