Two of the UAE’s leading financial institutions, Emirates NBD and Abu Dhabi Islamic Bank (ADIB), have collaborated to finance a $178 million (£140 million) Purpose-Built Student Accommodation (PBSA) project in London. This strategic initiative highlights the UAE’s growing prominence in the international real estate market, particularly in locations renowned for high student demand.
The development, Paddington Citi View, is a premium student housing project located just 100 meters from London’s Paddington Station. It will offer 353 modern bedrooms, each outfitted with world-class amenities, designed to meet the needs of students attending nearby universities.
The UAE’s Expanding Real Estate Footprint
This project showcases the UAE’s commitment to diversifying its global investment portfolio. UAE banks have historically shown interest in overseas ventures, particularly those offering stable income and strategic value. A recent report on Dubai’s ultra-luxury real estate boom in 2024 underscores how UAE investors are increasingly focusing on quality and long-term value in their investments.
Key Details of the Development
- Project Name: Paddington Citi View
- Location: 100 meters from Paddington Station, London
- Bedrooms: 353
- Features: Modern design, top-tier amenities, and proximity to academic institutions
Initially acquired by Union Property in 2022 from the University of London, the site has been reimagined to address the rising demand for premium student accommodation.
Insights from Industry Experts
Industry experts view this investment as a pivotal move to establish a presence in the UK’s thriving PBSA market. The strategic location near key academic hubs and excellent transport connections ensures high occupancy rates and steady rental income.
Emirates NBD and ADIB have implemented a 50/50 financing model, providing both conventional and Islamic banking solutions. This partnership underscores their shared commitment to sustainability and ESG (Environmental, Social, and Governance) principles:
- Emirates NBD: Focused on structured financing for high-quality, income-generating assets.
- ADIB: Prioritizing sustainable investments in high-demand sectors.
Why London is a Strategic Choice
London remains a premier destination for international students, known for its world-class universities and vibrant cultural scene. The demand for PBSA has grown exponentially in recent years as students seek comfortable, well-located housing. The Paddington Citi View development not only meets this demand but also benefits from its proximity to major transport hubs and academic institutions.
Are you interested in exploring investment opportunities in Dubai or beyond? Our business setup experts at DXB-VIP can assist you in navigating the UAE’s dynamic real estate and investment landscape. Contact us today to learn how we can help you capitalise on the UAE’s expanding global footprint.
