Kuwaiti entrepreneur, Fahed Boodai, the Chairman and co-founder of Gatehouse Financial Group has been presented with the Award for Business at the first Arabian Business London Awards.
The Award for Business, recognised Gatehouse Bank, a UK challenger bank that has established itself as a growing provider of Shariah-compliant banking services to UK residents, UK expats and International clients.
Fahed is Chairman of Gatehouse Bank, which he established in 2007, and the Bank is a subsidiary of Gatehouse Financial Group.
Earlier this year the Bank launched its Home Purchase Plan offering, enabling UK residents, UK expats and International clients to acquire homes, which is proving to be very attractive. In addition, Gatehouse also provides Buy to Let finance supporting both UK and international landlords.
The Award acknowledges the Bank’s contribution to British Society and this is particularly highlighted by Gatehouse’s expertise in the Private Rented Sector.
Under Fahed’s stewardship, Gatehouse was an early entrant into the UK’s Private Rented Sector, successfully completing its initial £100m scheme between November 2014 and February 2017 in partnership with Sigma Capital. A second scheme followed in December 2015 and across the two schemes over 1,600 family properties have been built in the North West and Midlands regions of England.
These ground-breaking ventures, which have Kuwait investors, have created one of the first large scale Private Rented Sector portfolios of family homes in the UK. These ventures also fit squarely with the UK government’s aim of creating more housing, as the UK is created too few homes for many years.
Commenting at the Arabian Business London Awards, Fahed Boodai, Chairman of Gatehouse Bank said:
“I am proud and honoured that the Bank’s contribution to British society has been recognised by Arabian Business. Gatehouse has a growing presence in the UK banking market, with our ethical, Shariah-compliant approach and high level service attracting an increasing number of customers.
“The Bank’s different approach to banking, together with a range of services which now include savings, home finance, commercial property and real estate finance, and our innovative Private Rented Sector schemes, enable Gatehouse to hold a unique position in the market.”