Shuaa Capital completes London property project

Dubai-based Shuaa Capital has completed the development of an apartment complex in London built on the site of the old Metropolitan Police headquarters at New Scotland Yard.

The development has been managed by Shuaa Capital subsidiary Northacre Properties.

The site was acquired for AED1.6 billion (US$ 436million) and now contains 258 redeveloped apartments

According to a statement, the project is designed to capitalise on the increased interest in London property among Middle East investors, attracted by the weak pound.

The completed project comes on the back of Shuaa Capital’s Q2 results which included a net operating income of $1.63 million.

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