IslamicFinance.de

Warba Bank has recently purchased a newly constructed UK vehicle imports-exports facility strategically located next to Immingham port. The property is leased to KIA Motors UK for unbreakable lease term of 20 years. The facility has a capacity of over 15,550 cars and totalling 86.68 acres (35.08 hectares) of land. In addition, the site also includes a warehouse space of 63,515 ft.² (5,901 m²), facilitating distribution, refurbishment, valet, inspection, refuelling, offices and gatehouses. The site receives on average c.1,200 vehicles a week. KIA anticipate 100,000 UK car sales target by 2020. Warba Bank’s CEO, Shaheen Hamed Al Ghanem, said this acquisition was one of the best risks mitigated real estate investment of the bank, generating a steady and secured return from unbreakable long lease. He elaborated that the investment plan for 2017 is highly ambitious and the bank is looking for more international real estate investment opportunities in USA, UK and other continental European countries.