Saudi Sidra's UK fund owns TDG for USD34.4m 

(MENAFN) United Kingdom Real Estate Fund, a unit of Saudi Arabia-based Sidra Capital, completed the acquisition of TDG Distribution Centre, Eurocentral in Glasgow, Scotland, for USD34.4 million, reported Arabian Business.

Sidra Capital, a Shariah compliant financial services company, said that the USD153.6 million fund, which was set up with a local lender, will continue to acquire a diverse real estate portfolio in the UK, offering Saudi Arabian investors access to one of the world's most transparent and well-regulated markets.

The property is entirely let to TDG (UK), a leading logistics company in Europe, on an unexpired term of more than 15 years.

With a reported turnover of USD757.8 million, TDG provides logistic services in UK and has European blue-chip clients such as global food manufacturer Kelloggs and supermarket chain Tesco.