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Thu 7 Jul 2016 09:30 AM

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UAE's Mashreq, Arady plan $300m real estate fund

Sharia’h compliant fund will seek to acquire select, income generating, diversified assets across the GCC

UAE's Mashreq, Arady plan $300m real estate fund

Dubai-based bank Mashreq has announced a partnership with real estate firm Arady Properties to launch the UAE’s first Qualified Investor Real Estate Fund. 

The Sharia’h compliant fund, which will be registered in the Dubai International Financial Centre (DIFC), will seek to acquire "select, income generating, diversified assets across the GCC with a focus on the UAE", a statement said.

The investment vehicle is structured as a six-year, close-ended fund, regulated by the DFSA. It will deploy $300 million of equity paired with debt to acquire assets with strong yielding potential, the statement added.

Capital raising and a Fund roadshow will commence in the third quarter of this year, and will consist of three, $100 million tranches among a maximum of 50 investors.

The partnership was signed by John Iossifidis, group head of Corporate Investment Banking Group at Mashreq and Ali Hamad Lakhraim Al Zaabi, chairman of Arady Properties.


Iossifidis said: “This fund will add a significant amount of product and investment diversity to the region’s Real Estate and Asset Management platforms. This is further evidence of Mashreq’s market leading capabilities in the area of Real Estate Finance & Advisory.”


Al Zaabi added: “Arady Properties is delighted to partner with Mashreq in this pioneering initiative and is looking forward to contributing our industry expertise, market knowledge and extensive investment experience.”

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