Two Gulf banks and a British investment corporation are forming an alliance to provide real estate investment products in the Middle East, reported the Gulf Daily News on Thursday.
It said that the United Bank of Kuwait (UBK), the Bahraini Ahli United Bank (AUB) and Henderson Global Investors had finalized preparations for the project.
UBK and AUB will market and distribute real estate products, while Henderson has been appointed to manage UBK’s existing real estate funds and to develop new products for its clients, said the paper.
“We already have a significant presence in the Gulf region and wish to strengthen our distribution capabilities throughout the Middle East by focusing on client relationships,” said UBK chairman Fahad Al Rajaan.
“Indeed, a priority for us has always been to offer our clients the best possible solution for real estate investment.”
“As property fund management and cross-border investment becomes more complex, we recognize the advantages of linking up with a trusted partner who can deliver a global capability and proven performance,” he added.
“Henderson is a perfect fit for us and our clients will benefit from this new relationship.
Henderson will become the property advisor for all of the two banks’ real estate funds in addition to developing new products for Middle Eastern investors – Albawaba.com
