UK: Property investment company, London Central Portfolio (LCP), has completed the first close on its first Shariah compliant residential property fund, London Central Apartments (LCA).
LCA, which is now in the midst of making its first acquisitions, will invest in real estate in areas such as Chelsea, Kensington, Knightsbridge and Mayfair.
The fund targets an annual return of between 10-13% over five years and has been approved for inclusion in Pointon York’s Shariah compliant self-invested personal pension, accredited by the Islamic Bank of Britain.