Trowers & Hamlins has advised One Housing Group on the first Islamic financing into the social housing sector, as one of the Group's development subsidiaries obtained £20m of development finance under a master murabaha agreement with Bank of London and the Middle East plc.

The firm advised on all aspects of the project, including providing governance advice to the group parent, One Housing Group, and property charging, development & construction advice to the development subsidiaries alongside the finance and security work.

BLME is the first Islamic bank to provide a murabaha facility to a registered provider, and therefore it is possible that this deal will pave the way for further Shari'ah-compliant investment into the sector.

Trowers partners Sarah Gooden (Banking and Finance), Katherine Dyer (Property Charging), and Jeremy Hunt (Housing and Regeneration) advised on the matter.

http://www.trowers.com/news/releases/trowers-hamlins-acts-for-one-housi…