Dubai, United Arab Emirates: Gulf Islamic Investments, a leading Shariah compliant global investment company based in the United Arab Emirates, with assets under management in the sectors of real estate, private equity and venture capital, announces a majority investment in OFFA, the UK’s first Shariah-compliant bridge financing provider for the real estate market.
The investment will further expand OFFA’s real estate financing proposition through the development of short-term and longer-term real estate financing products.
Pankaj Gupta, Co-CEO of Gulf Islamic Investments, said: “OFFA is a highly attractive bridge-financing house that benefits from strong net profit margins and operates in a rapidly growing market that is currently worth 5.1 billion GBP[1].
“The company is based in the Birmingham area of England, which has the largest Muslim population in the UK, and is the only Shariah-compliant bridge financer in the UK. The value of bridge financing in the UK grew 8.5% in the first three months of 2022[2], and we believe the combination of property prices, demographics and OFFA’s unique market position makes this a compelling investment opportunity.”
Mohamed Al Hassan, Co-CEO of Gulf Islamic Investments, said: “This key investment in a high potential market reflects our commitment to identifying attractive opportunities across the globe. Further to our recent acquisition of the digital bank, we are in the process of continuing to seek out attractive opportunities in the same space and in the direct credit sector to grow sustainable investor and stakeholder value.”
Bilal Ahmed, CEO of OFFA, said: “This significant investment by Gulf Islamic Investments will provide us with the capital to expand our asset book and product range. We carefully evaluated potential investors and selected GII for its commitment to genuine partnership, true understanding of Shariah investment, proven international track record and strength of their fundamental experience.”
The transaction is the latest in a series of GII investments in alternative assets such as direct credit, which offer distinct risk-reward characteristics and attractive diversification from traditional fixed income and equity asset classes.
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About Gulf Islamic Investments
Gulf Islamic Investments LLC (GII) is a leading Shariah compliant global investment company. With over $3 billion of assets under management, GII seeks to achieve superior & sustainable returns and long-term value for its investors & shareholders, by investing in curated growth & income opportunities. GII believes in ‘innovation with a purpose’ and hence works towards the sustainability of the ecosystem it operates in. Under the leadership of a committed management team supported by prominent shareholders from the region, GII deploys private capital across diverse asset classes including real estate, private equity, and venture capital. GII’s client network includes UHNWIs, family offices, banks, institutions, and sovereign wealth funds in the GCC and Asia. GII is headquartered in the United Arab Emirates with offices in Dubai, Abu Dhabi, Frankfurt and London. GII is regulated by the Securities and Commodities Authority (SCA). www.gii.ae
About OFFA
About OFFA, offa.co.uk
OFFA is the UK’s first Sharia-compliant short-term bridge property finance provider. Founded by property mogul Bilal Ahmed in 2019, this ethical alternative finance company is part of the UK’s £6bn bridge finance lending sector, offering financial products and services that are compatible with Islamic principles. The company brings innovation to the market by ensuring British Muslim property investors have access to short-term finance, with the emphasis on quick and efficient service for customers. OFFA’s senior team boasts some of the leading names in UK Islamic finance, guiding it through rapid expansion across the UK using existing direct and broker channels to meet the large and previously unfulfilled demand.
Media Contacts
Stephanie Badjonat
Group Account Director, Financial + Professional Services
stephanie.badjonat@hkstrategies.com
Suzanne Dagher
Head of Communications
communications@gii.ae
