UK based CastleHill Capital intends to launch a Sharia compliant Student Accommodation Fund in early 2015.
The manager, which formed in 2009 with a focus on education and training, said the launch came off the back of a growing market for UK student accommodation.
Shafqat Malik, CEO, said: “We are very excited about launching our first Shariah compliant UK Student Accommodation Fund. CastleHill Capital aims to become the partner of choice for real estate investments by delivering superior returns. UK student accommodation has attracted over £2bn of investments in each of the last two years with over 50% of capital coming from overseas.”
Currently, CastleHill has partnership agreements with over 50 universities, which it intends to leverage in order to offer student accommodation.