Shariah funds see potential in London property investment

Rics says Islamic banking and finance is quickly becoming one of the biggest global niche markets worth up to $500bn worldwide and is expected to grow 12 to 15% over the next ten years, with real estate beginning to feature heavily in this market. The report says Middle Eastern investment in European real-estate reached £827m in 2001, an increase of 225% on the previous year. And 90% of investors cited the UK as their favoured location for Shariah funds because of its political environment, legal and institutional frameworks, human capital and expertise. Rics says London’s wide range ...