New owner, new direction: 90 North sets eyes on tech to stay ahead of real estate curve

90 North Real Estate Partners has a new owner, which will offer a new dimension – involving blockchain technologies – to the UK firm’s Shariah investment and growth strategy, IFN Investor finds out.

Urooj International Holding, the PE arm of Kuwait-based AlHumaidhi Capital Group, is the new strategic investor, with which Philip Churchil, the founder and managing partner of 90 North, has formed a new joint venture to own 90 North.

“The personal introduction to Saoud Al-Humaidhi and Urooj came through an existing investor of 90 North. As we got to know each other, the full potential became clear to both of us, as we could build on 90 North’s track record and innovate with new products in the future,” Philip told IFN Investor.

A seasoned Islamic real estate investment specialist with over US$2 billion in completed deals, 90 North has a 14-year track record of facilitating Shariah property transactions in Europe and North America for investors in the Middle East.

The firm is cognizant of the impact of technological innovation, which extends beyond AI to also include developments in bio-longevity, energy storage and robotics, on the way people live.

“When combined with demographic trends of an ageing population and influence of Gen Z, and recognizing the headwinds of high levels of debt and geopolitical instability, we believe that there will be profound changes within real estate,” Philip shared.

Such shifts make the partnership timely as 90 North intends to leverage on Urooj’s forward-thinking policies and technology investment expertise to unlock future outperformance while navigating these external forces.

“By integrating cutting-edge technological approaches with 90 North’s deep real estate expertise, we can unlock unprecedented opportunities, enhance operational efficiencies and deliver superior value for our investors in this dynamic global landscape,” commented Khaled AlQahtani, CEO of Urooj.

Philip said the firm is looking beyond the “obvious” to identify unique opportunities in the hospitality, residential, industrial and office sectors.

“As well as new strategies, we are exploring being able to incorporate blockchain and cryptocurrencies into our offerings,” he revealed.