BLME

Estates Gazette reports that the UK Government has introduced its Planning and Infrastructure Bill to Parliament with the promise of creating the ‘biggest housing boom’ in a generation. The Bill aims to speed up planning decisions as well as remove unnecessary challenges or blockers to the development of vital infrastructure. Find out more here: https://ow.ly/gf3h50VjRjG

CoStar reports on new forecasting from BNP Paribas Real Estate which suggests that prime office rents in the UK are set to rise by up to 31% in key locations by 2029. The article notes that the UK office market is emerging as a particularly compelling investment choice due to the strongest rental growth in a generation. Check out the full article here: https://ow.ly/i0wn50VjQXG

This article in The Times discusses how Sharia’a savings accounts offer ethical and secure returns through a variety of account options for customers. BLME is highlighted as one of the UK’s leading Sharia’a-compliant banks, providing competitive savings options. Find out more here: https://ow.ly/5vS550VjQPR

Alongside colleagues from our digital bank Nomo, we recently had the privilege of visiting His Excellency Bader Al Munayekh, the newly appointed Ambassador of Kuwait to the UK. The meeting reinforced our strong relationship with both the Kuwaiti Embassy and the Kuwait Investment Authority (KIA) in London. We spoke about key areas of collaboration, investment facilitation and financial solutions for Kuwaiti individuals and institutions.

Today we’re celebrating Anjali Gudhka in the Financial Planning and Analysis team, who is marking #OneYearAtBLME! Anjali joined BLME after taking a career break, having previously worked in finance for major investment banks.  Anjali plays a crucial role in the bank’s monthly and quarterly reporting, and was a key team member of the bank’s general ledger transition to Oracle. She said: “I’ve really enjoyed that my day to day responsibilities go beyond the job specification when I was first brought in. Helping the bank’s new general ledger system go live and on time was a particularly memorable moment.” Anjali likes that BLME celebrates the different cultures of its employees, demonstrating a clear commitment to diversity and inclusion. She said: “I’m really impressed by the effort that the bank makes to educate its employees about different cultures. Being an organisation where everyone, knows everyone, this really helps to foster a collaborative environment.” Anjali has also been very impressed by BLME’s culture of openness. She said: “One minute I could be having a conversation with the CFO, and the next with a more junior team member, there’s very little red tape here.”

BLME is proud to support #InternationalWomensDay with some sweet treats from the wonderful Luminary Bakery, which supports and empowers women who’ve experienced abuse and homelessness to rebuild their lives through baking.

BLME is at #MIPIM! Khaled Alanani, Head of Real Estate Finance and Investments, and Jahid M., Associate Director, Real Estate Finance, are in Cannes, and will be there from today, March 10th, until Wednesday, March 13th. If you would like to discuss BLME’s activity and wider trends in the property market with them, please get in touch with PropertyFin@BLME.com.  

CoStar reports on new research from BNP Paribas Real Estate showing that 75% of available office space in Central London holds a Grade B rating. The figures highlight an urgent need for investment in upgrades to meet rising occupier demand for Grade A space. BLME’s own research has previously found that GCC investors can achieve a sales price premium by refurbishing buildings’ ESG credentials. Find out more here: https://ow.ly/XpRT50Valvs

BLME recently provided new funding secured on a purpose built hotel in Rochester, with strong design and environmental credentials. The property benefits from being close to key transport links and the leisure facilities in the centre of Rochester.  The facility was agreed for a three-year term and follows a strong period of trading in the hospitality sector.   Rashid Khan-Gandapur, Director, Real Estate Finance, said: “The UK’s hotel market has performed very well since the pandemic, bolstered by increased domestic travel for business and leisure. Budget hotels in particular have performed well and have shown resilience through economic cycles and are seen as an increasingly affordable proposition. The low staffing requirements and lack of reliance on food and beverage sales is an important factor in their success, with clients being offered a dependable and good quality hotel stay.   “BLME has a strong appetite for let hospitality assets across the UK and it was great to work on this financing deal with this reputable UK fund. If you’d like to discuss how BLME can help you with a similar deal, do get in touch with our team.”   Photo credits: Kimmre

Ramadan Kareem from all at BLME 🌙