Elite UK REIT Management Pte. Ltd. has announced a groundbreaking financial move by securing a £50m (S$87m-equivalent) Murabaha facility, marking Singapore’s first GBP-denominated sustainability-linked Shariah-compliant Murabaha facility. This 48-month agreement, facilitated through Elite Phoenix Limited, involves Malayan Banking Berhad and RHB Bank Berhad, with £22m already drawn to finance the acquisition of five government-leased properties.
The facility, aligned with Shariah principles, will also support refinancing existing loans and general corporate needs. Chief Executive Officer Joshua Liaw highlighted the significance of this financing, stating, “We are pleased to partner Maybank and RHB on this landmark financing, which brings together three important elements for Elite UK REIT – sustainability, Shariah-compliant finance and GBP funding.”
This initiative underscores Singapore’s role as a financial hub, connecting capital across Asia and the UK. Alvin Lee, CEO of Maybank Singapore, expressed commitment to innovative solutions, whilst Goh Ken-Yi, CEO of RHB Singapore, emphasised the strategic growth ambitions of Elite UK REIT.
The acquisition includes properties such as Queensway House and Griffin House, completed on 17 August 2026. This move not only diversifies Elite UK REIT’s capital sources but also broadens its appeal to investors seeking Shariah-compliant and sustainability-linked opportunities.
