Propiteer Capital

Propiteer Capital PLC issued a secured limited-recourse sukuk programme (maximum aggregate principal £200,000,000) backed by real-estate collateral. The firm is not authorised by the FCA — the regulator placed Propiteer Capital PLC on its Warning List on 20 March 2026 (updated 8 May 2026), advising consumers to avoid dealing with it because it may be providing or promoting financial services without permission.

As an unauthorised firm, there is no FRN for regulated activities, and UK statutory protections — FSCS and the Financial Ombudsman Service — do not apply to consumers dealing with it.

Per the Base Prospectus, the sukuk programme was structured as secured, limited-recourse instruments with proceeds used to provide financing secured by real estate or tangible assets. Sukuk holders' recourse was limited to the applicable mortgaged property or collateral in the event of default. Principal and profit payments under the underlying finance facilities were intended to service sukuk obligations. The prospectus does not publish an itemised investor-facing fee schedule.

Marketing materials and investor reports indicate Propiteer marketed asset-backed property investments across residential lettings, branded hotels and development projects, funded via sukuk issuance. Some bonds were described as tradable on exchanges in principle, but the Base Prospectus warned there was no established trading market on issuance and liquidity could be limited.

Communications targeted sophisticated and high-net-worth investors, referencing the Certified High Net Worth Individual classification (income £100,000+ or net assets £250,000+). A precise minimum subscription is not publicly documented. Because the firm is unauthorised, UK retail investors have no FSCS or FOS recourse and should not engage following the FCA warning.