IslamicFinance.de

Saudi Arabia-based Arbah Capital has acquired the Sauchiehall building in Glasgow, UK, valued at $76m (SAR285m), through a sharia'a-compliant investment structure. Arbah Capital stated that the acquisition represented a core long term investment and would help attain value at a time of uncertainty in the UK. The investment firm added that the Sauchiehall building aligned with its main strategy to focus on acquisitions of distinctive assets. The mixed-use property is a 2.87ha LG+G+6F structure, and features a multi-storey car park as well. Arbah Capital's CEO Mahmood Al Kooheji says this purchase enhances Arbah’s strategic alliances and relationships which further supports its position as an international gateway into the investment market.