RBS Funds Property Developer Expansion Plans
The following is a transcript of the article that appeared in the Croydon Advertiser:
Croydon, 13th August 2007
Local property developer, Bluesky Developments, has acquired a new site to develop residential flats, with the financial support of The Royal Bank of Scotland (“RBS”).
Based in South Croydon, Bluesky Developments is the creation of local businessman Mazhar Majeed. Specialists in land acquisition, development, management and consultancy, the company operate in the residential market, appealing to clients that wish to reside in central town centre apartments. Their latest site, near Redhill town centre, has seen the start of 10 new build apartments on London road, which has been funded by RBS in Croydon.
Mazhar has worked in partnership with RBS on numerous sites and was looking to receive the same level of support to build on the business and expand its presence across greater London. Fel Ibrahim, Relationship Manager at RBS in Croydon, knows the local property sector and Mazhar well and was happy to provide a £1.8m funding package that allowed the Redhill site project to undergo development. In addition to this, RBS will continue to work closely with Bluesky Developments to achieve their vision within the Croydon regeneration programme.
Mazhar Majeed said:
“Our business has grown incredibly over the past few years and we are delighted with the insightful advice and financial package that Fel provided us to take forward the expansion of our business. We have a number of new projects in the pipeline and we look forward to working with Fel as we continue the growth of Bluesky Developments Ltd.”
Fel Ibrahim, Relationship Manager, Commercial Banking at RBS in Croydon said:
“Bluesky Developments is a strong business that has consistently performed well. I have been delighted to work alongside the company to provide the funding required to meet its expansion plans. I look forward to working with Bluesky Developments as the business continues to grow and I wish it every success for the future.”
