Sep 04, 2014


September 4, 2014 – Arzan Wealth (DIFC) Limited (‘Arzan Wealth’), a Dubai-based advisory firm regulated by the Dubai Financial Services Authority, is pleased to announc​​e that it has advised a consortium of investors on the funding and acquisition of a majority stake in Ashbourne Beech Property Limited BVI (“Ashbourne”), which controls the development rights over a prime 44,535 sqm (11 acre) site, one of the last remaining undeveloped strategic sites in the Docklands (adjacent to Canary Wharf), London (the “Site”).

Ashbourne owns the development rights to the Site, which currently accommodates an ASDA supermarket and associated parking lot. Subject to formal planning approval this important regeneration project will provide for the development of a new supermarket plus mid-level and affordable residential units with a gross development value in excess of GBP 420m.

Arzan Wealth and its strategic partners, 90 North Real Estate Partners (“90 North”), and specialist residential developer RER London Limited (“RER”), have arranged and structured the transaction, and will jointly have an ongoing advisory relationship with the consortium of investors.

Muhannad Abulhasan, CEO of Arzan Wealth commented: “The London residential property market has historically attracted foreign capital into luxury developments of highly priced apartments for wealthy international buyers. This has created a shortage of affordable and middle income residential units for the general London population, leading to intense political pressure to increase the supply of more affordable housing in London. We believe that this investment is well-positioned to address this large market requirement, and are confident that we can help provide a significant number of the kind of housing units the market desperately needs, while delivering superior risk-adjusted returns to our clients. Arzan Wealth is pleased to be the arranger and adviser on this innovative and unique investment opportunity, which has been concluded as part of our growing strategic partnership with 90 North.”