Istithmar, the leading Dubai-based alternative investment house, has acquired the freehold interest of The Adelphi, the 340,000 sq. foot prime office building located in Central London overlooking the River Thames. Istithmar already owns Grand Buildings, Trafalgar Square. “This purchase is a further step in the fulfilment of our investment strategy in the UK of assembling a portfolio of top quality assets in prime locations,” said Richard Johnson, Managing Director, Istithmar Real Estate. He went on to say, “Istithmar’s real estate strategy is to earn exceptional returns through the acquisition and active management of substantial investments in key locations throughout the world”.
Istithmar is an alternative investment house based in UAE, it is 100% owned by Dubai World, which is in turn wholly owned by the Government of Dubai. Istithmar’s investment portfolio comprises over 50 successful companies and its equity investment exceeds $2.6billion. It has a range of real estate interests in a number of key markets around the world. P & O Estates, an affiliate of Istithmar, advised and assisted Istithmar in the acquisition. Jones Lang LaSalle acted for the purchaser and Knight Frank for the vendor, an overseas company.
© 2006 Al Bawaba (www.albawaba.com)
