A consortium of Qatari funds is stumping up the $3.88 billion to fund the building of London's "Shard of Glass" skyscraper. The 310-meter tower, described as "Europe's most recognisable commercial property landmark", will add two million square feet of commercial space to the City.
It is another example of cash-rich Gulf funds stepping in to finance credit-crunched Western ventures. This one differs slightly in that it is a new build, high profile and slightly risky; nearly 400,000sqft of space has been pre-sold but filling the rest could prove sticky.
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Showing posts with label First Gulf Bank. Show all posts
Showing posts with label First Gulf Bank. Show all posts
Wednesday, January 23, 2008
Wednesday, July 4, 2007
What lies beneath
Credit cards are an essential part of Gulf life, and not just to finance designer clothes and flashy watches. Some bills are practically impossible to pay unless you have the requisite plastic and thus, until the advent of proper debit cards, most wallets held at least one card bearing a Visa or MasterCard logo. These days banks offer credit cards to new customers as a matter of course, and that includes Islamic banks. Yet unlike their mainstream counterparts, Islamic banks, to their chagrin, must field awkward questions about what lies beneath the stamp of Shari’ah compliance. Read More
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