Albilad Capital Finances GBP 87 Million Acquisition of PWC Headquarters in Northern Ireland using ADIB

Albilad Capital, a wholly-owned investment arm of Saudi Arabia-based Bank Albilad is set to make a key acquisition of the PricewaterhouseCoopers (PWC) headquarters in Belfast, Northern Ireland. Abu Dhabi Islamic Bank (ADIB) is set to provide structured Islamic financing for the deal to the value of GBP 87 million. This marks the largest office transaction in Northern Ireland and the first major property investment in the country by an investor from the Middle East.

Why it Matters?

Known as Merchant Square, the property is located at the heart of the Belfast Business District and has been recently extended and renovated. Head of UK Real Estate at ADIB, Paul Maisfield, said that the deal has strong fundamentals that meet risk criteria including Albilad...