Istithmar already owns Grand Buildings, Trafalgar Square. "This purchase is a further step in the fulfilment of our investment strategy in the UK of assembling a portfolio of top quality assets in prime locations," said Richard Johnson, Managing Director, Istithmar Real Estate. He went on to say, "Istithmar's real estate strategy is to earn exceptional returns through the acquisition and active management of substantial investments in key locations throughout the world".
Istithmar is an alternative investment house based in UAE, it is 100% owned by Dubai World, which is in turn wholly owned by the Government of Dubai. Istithmar's investment portfolio comprises over 50 successful companies and its equity investment exceeds $2.6billion. It has a range of real estate interests in a number of key markets around the world. P & O Estates, an affiliate of Istithmar, advised and assisted Istithmar in the acquisition. Jones Lang LaSalle acted for the purchaser and Knight Frank for the vendor, an overseas company.
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Istithmar acquires the freehold interest of The Adelphi
- United Arab Emirates: Thursday, November 16 - 2006 at 08:06
- PRESS RELEASE
Istithmar, the leading Dubai-based alternative investment house, has acquired the freehold interest of The Adelphi, the 340,000 sq. foot prime office building located in Central London overlooking the River Thames.
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About Istithmar:Istithmar is an alternative investment house based in the United Arab Emirates. It is 100% owned by Dubai World, which is in turn wholly owned by the Government of Dubai. Istithmar was established in 2003 with the key mission of earning exceptional returns for its investors while maintaining due regard for risk.
Istithmar, which means investment in Arabic, applies global expertise with local insights to coordinate the appraisal and implementation of various opportunities. Istithmar's 'I' investment philosophy is based around three core principles -- Ideas, Inquiry & Integrity -- sets the foundation for the firm which has a broad portfolio of highly successful companies in markets from North America to Europe to Asia to the Middle East.
Istithmar's investment portfolio comprises 50 successful companies with premium assets within financial services, consumer, industrial and real estate sectors, in addition to investing in hedge funds, listed equities and alternative investment projects. The company's equity investment exceeds US$ 2.6 billion across markets ranging from North America to the Far East.
For further information, please contact:
Mohamed Tahboub
PanGulf PR,
Tel: +9714-295 3456
Fax: +9714-295 1027;
Arwa Hamdieh, Marketing & Communication Director
Istithmar
Tel. +9714-368 0799
Fax. +9714-390 3818
For more information about P&O Group, please contact:
Claire Gosnell
Tel. +44(0) 20 7901 4122
Posted by Anne-Birte Stensgaard, Senior News EditorThursday, November 16 - 2006 at 08:06 UAE local time (GMT+4)
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This article was updated on Sun Feb 25 2007.
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