Investment House (distributor) and Inovalis (issuer & manager) announced the completion of the seventh investment wakala and concluded the first acquisition in the beginning of the year 2022 in Germany.
Investment House and Inovalis, where the latter has more than 15 years of investment experience in Germany, have demonstrated their ability through this investment to meet the requirements of investors by identifying investment opportunities combined with mitigated risks: high-quality real estate properties, credit-worthy tenants, long-term leases, and dynamic economic environment with positive aspirations.
The property is built to meet the highest standards and is strategically located in Wolfsburg, the hometown to Volkswagen, near its plant and headquarters. It was completed in early 2021 and comprises two buildings totaling 9,400 sqm lettable space and 179 parking spaces. The estate essentially includes offices, test laboratory, and cold storage. It is worth mentioning that the property has been fully let for nine years to two well-known suppliers from the automotive industry, iinovis and Cariad. Whereas iinovis is an internationally active engineering service provider, while Cariad is Volkswagen’s growing 100% subsidiary specializing in automotive software and technology.
Mr. Khalil Hankash – Managing Director of Inovalis stated that “With this new acquisition, Inovalis pursues investments for one of our Middle Eastern clients, Investment House, and we hope to complete in 2022 the creation of a real estate Shariah compliant pan-European fund with this investor. This new acquisition also confirms the ability of Advenis Germany, present in Germany since 2007, to source off-market quality assets within a dynamic environment.”
In his turn, Mr. Mohammed bin Ahmed Al-Suwaidi, Chairman and Managing Director of Investment House, said, “We are continuing our growth strategy, with the aim to remain as the preferred Shariah-compliant investment solutions provider in Doha. In 2022 we will enhance our capabilities in raising and deploying new investments by launching a European Real Estate Fund with our partner Inovalis’’.
