IslamicFinance.de

Gulf Islamic Investments (GII) has acquired a property in New York, which brings the firm’s US portfolio to more than $230 million. The property is an office building in White Plains, Westchester County, with a leasable area of 220,000 square feet, and is currently over 90% occupied by more than 30 tenants. It is also strategically located, as it’s close to the Federal, Supreme, District and Country courthouses in New York. According to CEO Pankaj Gupta, the global economy continues to signal a low-interest rate regime for the foreseeable future, hence, GII sees that such long income assets can deliver high single-digit returns. He added that GII was exploring such opportunities in Paris real estate market as well, with the view of taking advantage of the impact of Brexit.