Through its wholly-owned subsidiary, Northacre, SHUAA Capital psc (DFM: SHUAA), leading asset management and investment banking platform in the region, announced its intention to complete and deliver ₤2 billion worth of property projects in London.
Currently, Northacre is focusing on completing its two biggest projects: No.1 Palace Street and The Broadway, both of which are due to be completed by H1 of 2022.
Located opposite Her Majesty’s official London residence, No. 1 Palace Street boasts unrivaled views towards the Palace and its private gardens, making it one of London’s most coveted addresses. The Northacre team recently announced that they are collaborating with Walpole and 1 Palace Street on its next show apartment, House of Walpole.
Northacre will unveil the first show apartment overlooking Big Ben and the Houses of Parliament in October. Additionally, 116,000 square feet (sq ft) of commercial space will also be offered on the market in October. Broadway also features 27,000 square feet of retail space at ground level, which will include a wellness ecosystem.
On this occasion, Jassim Al Seddiqi, Group CEO of SHUAA Capital, said, “As a major investor in the prime London property market, we are delighted that the fruits of our long-term vision are now becoming a reality.”
From his side, Walid El Hindi, CEO of Real Estate at SHUAA Capital, added, “The significant growth of SHUAA’s real estate portfolio in the United Kingdom reflects its effective strategic vision to create opportunities that deliver long term value with high returns. We look forward to exploring further opportunities in line with our strategy and investing in the UK and embarking on many more world-class developments.”
The UK-based developer Northacre has more than 30 years of experience in the real estate sector, managing more than ₤2 billion worth of projects and completing more than 10 million square foot luxury buildings in London.