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London RE company gets Saudi prince's backing for £200M UK investment drive

Saudi Prince Abdullah Bin Mosaad has become a shareholder and a board member of Darin Partners, supporting the London-based property company's bid to invest in the U.K.'s commercial real estate sector, Property Week reported.

Darin Partners is anticipated to more than double the size of its portfolio by pouring approximately £200 million into the U.K. over the next 12 months.

The publication noted that it was unclear how much the prince personally contributed to the investment sum but noted that the figure was "substantial." The funds will be used to invest in London, as well as in the South East region and other major regional cities, focusing on properties producing long-dated income, PW added, citing David Bell, CEO and founder of Darin Partners.

Darin Partners manages property investments in the U.K. on behalf of family offices, funds, financial institutions and other investors from the Arab states of the Gulf, the March 9 report noted. Since it was established in 2015, it has bought over £175 million of assets in the country.