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Bank of London and The Middle East (BLME) has provided a £12.35 million ($15.6 million) financing facility to Rasmala Investment Bank to buy an apartment development in London’s Chancery Lane.
The finance facility for the 14-unit serviced apartment building is part of Rasmala’s real estate investment strategy focusing on built-to-rent and serviced apartments, BLME said.
Adnan Adil, director, investments, Rasmala Investment Bank, said the bank is expanding its Sharia-compliant UK residential assets portfolio under Generation Living Solutions, its Jersey Private Fund.
(Reporting by Imogen Lillywhite; editing by Daniel Luiz)
