

UAE Banks Finance £140M London Student Real Estate Development
Two UAE banks have partnered to finance a major student housing project in central London. This strategic move marks a significant investment in the UK’s Purpose-Built Student Accommodation (PBSA) market, demonstrating the UAE’s growing presence in international real estate.
Key Players in the Deal
Emirates NBD and Abu Dhabi Islamic Bank (ADIB) have come together to finance the £140 million ($178 million) deal. This 50/50 joint financing is set to support the development of Paddington Citi View, a premium student housing property located just 100 meters from London’s Paddington Station.
Strategic Partnership
This financing showcases how UAE-based banks can deliver flexible and structured financing solutions through both conventional and Islamic banking methods.
- Emirates NBD’s Focus: Structured financing to support high-quality assets with steady income potential.
- ADIB’s Role: Ensuring investment in assets with strong demand, sustainable income, and a focus on ESG (Environmental, Social, Governance) credentials.
About the London Student Real Estate Development
The funded property, Paddington Citi View, offers 353 modern bedrooms with top-notch amenities. Its location near Paddington Station makes it highly attractive for students, ensuring easy access to London’s key universities and academic hubs.
Formerly known as Lillian Pension Hall, the property was acquired by Union Property in 2022 from the University of London. Its prime location and excellent facilities make it a sought-after choice for students in London.
Why This Location Matters
The property’s close proximity to major academic institutions and excellent connectivity makes it an ideal option for the growing number of students looking for convenient and comfortable living options.
Union Property’s Managing Director, Raj Sehgal, expressed excitement about the property, stating, “Paddington Citi View is a great addition to our portfolio and is perfectly positioned to meet demand from students in London.”
Future Prospects for the PBSA Market
The UK’s Purpose-Built Student Accommodation market remains an attractive choice for global investors. According to real estate research firm Knight Frank:
- £840 million ($1.1 billion) was invested in PBSA during Q3 2024.
- Total investment in 2024 is up to £3.3 billion ($4.2 billion), an increase from the previous year by £1.3 billion ($1.7 billion).
This transaction accounts for 46% of global capital flows into the PBSA sector in 2024, reflecting the strong demand for student housing in the UK.
Insights from the Banks
Emirates NBD’s Strategy
Carlo De Vos, Head of Corporate and Institutional Banking at Emirates NBD, commented:
“We are pleased to have supported this debt facility, which underscores our capability to deliver strategic, structured financing solutions to international clients.”
The deal highlights Emirates NBD’s commitment to strategic investments while expanding its presence in key international markets.
ADIB’s Investment Criteria
Paul Maisfield, UK Chief Country Officer at ADIB, highlighted the strategic approach taken by the bank:
“Our criteria for investment prioritise asset quality, ESG credentials, and sector-specific supply and demand factors.”
ADIB has been involved in other high-profile UK housing projects, including co-living spaces and PBSA properties in locations such as North Acton, Kingston-upon-Thames, and Manchester.
Conclusion: UAE Banks Strengthen London’s Student Housing Market
This £140 million ($178 million) financing deal represents a significant collaboration between Emirates NBD, ADIB, and Union Property. It supports a much-needed London Student Real Estate Development while expanding the UAE’s influence in the UK property market.
With projects like Paddington Citi View, the UAE banks are positioning themselves as key players in London’s competitive PBSA sector, offering both strong investment opportunities and modern living solutions for students.
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