The property was acquired by a Saudi-based client for GPB 40.3 million (AED 195 million).
Abu Dhabi Islamic Bank (ADIB) UK, has secured a AED 195 million acquisition of Travelodge Hotel, located at London’s Heathrow Airport.
In a statement, ADIB said that the bank provided GBP 26 million (AED 125.7 million) of Shari’ah compliant financing.
The hotel, is under lease to Travelodge Hotels, with 20 years remaining on the lease.
Paul Maisfield, Head of Real Estate at ADIB UK, said that the ADIB UK team holds the expertise needed to ensure a smooth and successful transaction, in addition to providing competitive Shari’ah compliant financing solutions.