UAE banks Emirates NBD, ADIB in 140m pound financing for London student housing

Dubai: The UAE bank Emirates NBD has closed a 140 million pound senior financing transaction for a student accommodation facility in central London. This was done in tandem with Abu Dhabi Islamic Bank (ADIB).

The 50:50 club deal 'marks a significant collaboration between the two banks and also helps raise the UAE’s banking presence in key overseas markets.

The student housing, Paddington Citi View, features 353 bedrooms with top amenities in an area 100 meters from London’s Paddington Station. This provides students on with 'exceptional connectivity to top academic institutions' across London.

Formerly 'Lillian Pension Hall', the property was acquired by Union Property in 2022 from the University of London. "Its location and quality make it a distinguished offering in London’s competitive PBSA (purpose-built student accommodation) market.

“We are pleased to have supported this debt facility, which underscores our capability to deliver strategic, structured Islamic and conventional financing solutions to international clients," said Carlo De Vos, Head of Corporate & Institutional Banking at Emirates NBD. "This deal reflects our focus on high-quality assets with stable income potential, and supports our strategy to work with strong counterparties.”