By Martin Morris
Sharia compliant distressed property fund available to individual, corporate investors.
Mayfair Wealth Management (MWM), the Cayman Islands-based financial advisor, has extended the subscription deadline for its Real Estate Musharakah Notes (REMNotes) fund until October 29.REMNotes, a $50 million Shariah-compliant distressed property fund will seek to take advantage of beaten-down UAE real estate values and says it 'expects' to deliver an annual investment return of 12 to 15 percent through the acquisition of ''strategically sourced'' undervalued properties in the emirates.
Available to individual, joint or corporate investors, minimum investment in the fund is $25,000.
MWM has partnered with E-valuations Chartered Surveyors, a Dubai-based valuation firm certified by the Royal Institution of Chartered Surveyors (RICS), and Mayfair International, a global property consultancy firm from the UK, who are tasked with ensuring that acquired properties are efficiently managed and will yield optimum returns.