The European Islamic Investment Bank (EIIB) has announced the launch of a Sharia-compliant fund that will directly purchase office, retail and industrial real estate in and around major cities across Europe. EIIB appointed Knight Frank Investment Management as the fund advisor with responsibility for sourcing real estate deals and managing purchased properties.
German-listed real estate company Branicks Group has sold a retail property in Bremen city centre to municipal urban developer Brestadt for €37.2 mln.
