Arab Today, arab today exdragon targets gulf investors with real estate fund
Last Updated : GMT 02:17:02
Arab Today, arab today
Arab Today, arab today

Ex-Dragon targets Gulf investors with real estate fund

Arab Today, arab today

Arab Today, arab today Ex-Dragon targets Gulf investors with real estate fund

London - Arabstoday

James Caan, the UK-based entrepreneur, is hoping to attract interest from Gulf investors in a Sharia-compliant fund that buys up property assets in the UK. The former star of the BBC’s ‘Dragon’s Den’ TV series is touring the Gulf in a bid to drum up investment interest in a £45m ($69m) student housing product, offered through the independent firm 90 North, in which Caan holds a stake.  “When you think today that half the world’s population today is Muslim, as a businessman I see this as one of the biggest growth market opportunities that is under-exploited,” Caan told Arabian Business at a Dubai event on Thursday. “Potentially over the next five or ten years I can see this as being a very attractive position. I think there is an incredible increase in demand for Sharia-compliant opportunities and products.” Independent advisory firm 90 North was co-founded by Philip Churchill, formerly of Kuwait-backed Gatehouse Bank. The company has placed nearly £1.1bn ($1.7bn) on behalf of Gulf investors in Islamic-compliant real estate assets to date. Sharia law forbids gambling, investments in alcohol and receipt of interest, so fund managers have to select investments deemed halal, or permissible. “Most of the product that we have sourced is UK-based,” Caan said. “The UK is a natural place that I think Middle East investors find very comfortable, because of the governance, the laws and the transparency.” Islamic finance assets around the world are expected to climb 33 percent from their 2010 levels to $1.1 trillion by the end of 2012, boosted by the aftermath of the Arab Spring uprisings and dissatisfaction with conventional finance in the wake of the global debt crisis, according to consultancy Ernst & Young. 90 North hopes to tap into the Gulf’s wealthy residents by offering property assets with secure long-term returns, Caan said. “We have identified an investment opportunity in the student housing market. Well respected universities are still getting more applications than they can cater for so the demand side is very high but most universities are not able to meet the demand in terms of accommodation,” he said. “You have predictability of income.” In ‘Dragons’ Den’, Caan was one of panel of entrepreneurs courted by start-up firms in a bid to secure their investment in return for an equity share. Caan, who invested $1.5m in 14 companies while on the show, said Dubai remained the leading destination for investment among the six Gulf states.  “If I was being pitched in Dragon’s Den by Abu Dhabi, by Qatar, by Dubai – which one would I back? [Dubai] has the least and has made the most out of it,” he said. “Look at the region, Dubai probably has the least natural resources so it doesn’t have an option. Its drive and determination is much greater than somewhere like Qatar.”

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today exdragon targets gulf investors with real estate fund Arab Today, arab today exdragon targets gulf investors with real estate fund

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today exdragon targets gulf investors with real estate fund Arab Today, arab today exdragon targets gulf investors with real estate fund

 



Arab Today, arab today Etiquette expert calls for short visits

GMT 16:21 2017 Monday ,26 June

Etiquette expert calls for short visits
Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Mai Al-Jeddawi presents décor ideas for Ramadan
View News in Arabic - Business: عقارات
Arab Today, arab today
Arab Today, arab today

GMT 09:49 2017 Tuesday ,02 May

Girl barred from Malaysia chess competition

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse

GMT 16:25 2017 Sunday ,04 June

“Suhoor” is basic meal for fasting

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 11:09 2017 Sunday ,25 June

HUAWEI P10 the ‘guru’ of portrait shots
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday