Purchase of Properties in the United Kingdom
Mercy Mission UK (MMUK)
$4.31 million
Approved
The objective of the project is to generate a regular income for the Mercy Mission UK (MMUK), which will be used to finance part of its charitable activities. This will be achieved through the purchase of buildings in UK. The project properties will be registered as Waqf in the name of the MMUK.
The project entails the purchase of two properties, which included a property in Hull and the other in Huddersfiled. The Hull Property costs GBP 1.4 million (US$ 1.72 million), whereas the property in the Huddersfiled costs GPB 1.75 million (US$ 2.15 million) including the cost of renovation.
Mercy Mission UK is the Beneficiary and Executing Agency of the project. It is a registered charity in UK, which plays its role in advocacy of the vulnerable in society and leverages external funding to support people to better achieve their goals in the country.
The total cost of the project is estimated at US$ 4.31 million. IsDB will finance part of the cost of the project for an amount of US$ 3.20 million (APIF: US$ 1.60 million and APIF Line: US$ 1.60 million). The Beneficiary will contribute the remaining amount of US$ 1.11 million.