SHOPPING IN THE MOTHER COUNTRY GETS SHARIA COMPLIANT: JANET LEVY
http://www.familysecuritymatters.org/publications/detail/shopping-in-the-mother-country-goes-shariah-compliant?f=puball
Major Retail Mall in England to be Shariah Compliant
1) The production and sale of pork and pork products will be prohibited.
2) The production and sale of alcohol products will be prohibited.
3) No gambling activities are allowed on the premises.
4) The investment will respect the “purification” requirements of shariah by including donations to Islamic “charities.” (We all know how that goes! Revisit the Texas Holy Land Foundation-Hamas funding trial, the largest terrorist funding trial in U.S. history for more on “donations to Islamic charities.”)
British actor James Caan (NOT to be confused with the Jewish American actor) heads the investment firm, Dubai-based Arzan Wealth. He is extremely pleased with this deal, seeks similar investments and views the adherence to Islamic principles as a significant achievement.
Janet Levy, Los Angeles
TV dragon James Caan swoops to buy £41m retail park
A major retail park has been sold to a group headed by a former star of TV’s Dragons’ Den in a £41.5 million deal – and will be subject to Islamic law restrictions.
Crossley Retail Park in Kidderminster has been acquired from Chester Properties by a company known as 90 North Real Estate Partners LLP (90 North), which has James Caan as chairman.
A Middle Eastern investor, represented by Dubai-based Arzan Wealth, was advised on the purchase of the retail park by 90 North, an independent advisory firm specialising in Sharia-compliant real estate investment
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Certain trades and activities are prohibited under Sharia law and these include gambling, the production or sale of alcohol and the production or sale of pork.
However, where any real estate includes a shopping centre with, for instance, an off-licence, the investment can be structured so that part of the income is ‘purified’ by being donated to an Islamic charity.
The property is the first retail park acquired with help from 90 North, and there is said to be growing interest among other Middle East investors. Nicholas Judd, founder partner of the company, said: “The investment platform we manage in partnership with Arzan Wealth has now acquired approximately £110 million of property and we are seeking further substantial acquisitions”
Mr Caan said: “Once again, we have demonstrated our ability to originate and transact across the UK property spectrum, with recent transactions including central London redevelopments, warehousing and student housing properties, all structured in accordance with Islamic principles.”
Read more: Family Security Matters http://www.familysecuritymatters.org/publications/detail/shopping-in-the-mother-country-goes-shariah-compliant?f=puball#ixzz2n4LptPUT
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