By Lynne Roberts
DIB's Sharia-compliant fund invests in eight retail properties in the United States.
Dubai Islamic Bank has launched a $47m US real estate fund, which invests in eight retail properties in the United States, Gulf News says today.
The Sharia-compliant fund requires a minimum investment of $25,000. It will utilise Ijara, a Sharia-compliant master leasehold, and offer semi-annual coupon payments with an anticipated yield of 8.25% per year.
Properties are located across a range of US markets in areas with positive demographic trends, strong daytime populations and moderate to strong average household incomes.