Ento Capital surges its Assets Management to the UK
Ento Capital; launching of US$50 million Al Rajhi Legacy Fund
Dubai — A regulated entity of the Dubai Financial Services Authority, DFSA, Ento Capital is expanding its Assets Management to the UK with the launching of US$50 million Al Rajhi Legacy Fund.
The Al Rajhi Legacy Fund is a closed-ended Property fund with a committed capital by members of Saleh Al Rajhi Family. The fund is incorporated in the Dubai International Financial Centre, DIFC, and registered as an Exempt Fund under the laws of the DFSA. The fund plans to acquire and accumulate a diverse portfolio of real estate assets, predominantly in the United Kingdom. These acquisitions aim to generate rental income and capital appreciation.
As per fund details, the Fund manager will actively manage the real estate assets as well as invest in the wider real estate markets in countries in Europe.
We are pleased to be launching this Fund which will invest its net assets, plus the amount of any borrowing for investment purposes in different sectors of real estate income-generating properties as well as in Real Estate Investment Trusts, REITs
The $50 million funds, which is open to corporations, high net worth individuals and family offices, holds a diversified portfolio of properties with attractive investment fundamentals. It also adds substantial value through the professional management of the property portfolio with annual dividend distributions. El Masri said the investment is open to professional investors over the investment period, providing them with the flexibility of trading units without any lockup period after initial closing hence offering the privilege to our fund investors.
The UK properties’ market is attractive and growing. According to Savills, one of the world’s leading property agents, “UK property prices will increase by 20.4 per cent, with an even higher growth of 27.3 per cent expected within the North West region.” Savills’ five-year house price forecast predicts UK prices to grow 15 per cent on average by 2024.
Real estate company Knight Frank stated that the residential property market has hit new highs ahead of second national lockdown. There were 105,630 UK residential transactions in October of 2020, 8 per cent higher than October 2019 and 10 per cent higher than September 2020, according to provisional data from HM Revenues and Customs.–WAM