Shuaa's Northacre to develop $3.6bn projects for global expansion

Dubai – Mubasher: The London-based developer Northacre, a subsidiary of Shuaa Capital, plans to launch various projects across the UK and GCC region at a total value of $3.6 billion, as part of its global expansion.

Under Northacre's plans for growth, Shuaa will combine its real estate-related investment, development, and asset management businesses under one platform and establish a separate new entity headquartered in London, according to a press release on Sunday.

Northacre’s expansion mainly focuses on sustainability and wellbeing and seeks to achieve a 5* Global Real Estate Sustainability Benchmark rating by 2030.

The Board Member and Managing Director of Shuaa and recently appointed Chairman of Northacre, Jassim Alseddiqi, said: "We are committed to the health and wellbeing of our residents, tenants, and visitors, and take a thoughtful approach to real estate investment, development, and management, whilst delivering profitable real estate investments that will sustain and grow throughout all market cycles."

Meanwhile, the CEO of Real Estate Shuaa Capital and Group CEO of Northacre, Walid Al Hindi, commented: "Through our holistic approach to creative investments, innovation, and an unwavering commitment towards sustainable real estate and wellbeing in every aspect of our business, we plan to raise the bar and set a new standard for the Real Estate industry."

It is noteworthy to mention that in late June, Northacre partnered with St. Regis hotel brand at No 1 Palace Street, close to her Majesty’s official London residence, Buckingham Palace.

Mubasher Contribution Time: 04-Jul-2022 06:52 (GMT)
Mubasher Last Update Time: 04-Jul-2022 06:52 (GMT)