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Dubai, United Arab Emirates - UAE's leading financial institution, Mashreq is in partnership with Arady Properties, an experienced Real Estate company set to launch the UAE's first Qualified Investor Real Estate Fund which will be registered in the DIFC.
The Sharia'h Compliant fund's strategy will be the acquisition of select, income generating, diversified assets across the GCC with a focus on the United Arab Emirates. The investment vehicle is structured as a six-year, close-ended fund, regulated by the DFSA. It will deploy USD 300 million of equity paired with debt to acquire assets with strong yielding potential. Capital raising and the Fund Road Show will commence in Q3, and will consist of three, $100 million tranches amongst 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.
The Fund's objective will be to provide attractive returns to investors through acquisition of assets with substantial upside via active property management. Assets will be selected by leveraging the Fund's extensive network and management's industry expertise. The current market conditions present an opportune time to acquire targeted assets in the UAE with many GCC investors having significant capital seeking stable investments delivering optimal returns through robust management capabilities.
Mashreq's Real Estate Finance and Advisory team has spearheaded the Funds initiative and will act as an investment advisor along with Arady, whilst Mashreq Capital will act as the Fund Manager, an award winning institution with four Funds under management.
Arady Properties is a well-established investment manager with substantial regional experience in real estate private equity, asset management, and investment advisory. The JV partnership will bring significant industry expertise, unparalleled market knowledge, access to lucrative assets and a plentiful investor base.
On the launch of the Fund, John Iossifidis, Group Head of Corporate and Investment Banking at Mashreq, stated: "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."
Ali Hamad Lakhraim Al Zaabi, Chairman of Arady Properties, expressed: "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."
Zain Qureshi, Head of Real Estate Finance and Advisory at Mashreq, said "We believe this is an ideal time to launch such an investment product; we look forward to working with our partners and enhancing our contribution to the GCC real estate market. Other avenues and structures are currently being developed by the Real Estate Finance & Advisory team which will continue to keep this platform a market leader."
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About Mashreq
Mashreq is the oldest bank in the U.A.E. with an extensive branch network across the Emirates. Mashreq is also present in Qatar, Bahrain, Kuwait and Egypt and has 26 overseas offices in 12 countries spread across Europe, USA, Asia and Africa, thereby providing a comprehensive range of international financial services. Established in 1967, Mashreq has established itself as a market leader by delivering award-winning customer experiences and innovative thinking across its financial products and services. Mashreq's various banking divisions cater to unique specialisms and expertise and include: Corporate Banking, Retail Banking, International Banking, and Innovative Treasury Services. The bank also provides Sharia'h compliant financial banking solutions. As a leading financial institution, Mashreq is committed to supporting every community it serves. In the U.A.E., the bank pays particular attention to recruiting, training, and developing U.A.E. National employees. Mashreq is the only financial institution in the U.A.E. to have been awarded the CSR Label by Dubai Chamber for five years in a row. Mashreq is the recipient of prestigious industry honors, including the "Best Regional Debt Bank in the Middle East 2015", "Best Investment Bank in the U.A.E. 2015" awards by the New York based Global Finance, "Best Investment Bank in the Middle East" and "Best Loan House in the UAE" as part of the Middle East Banking Awards 2015 held by the EMEA Finance.
For media enquiries, please contact:
Huda Ismail Nssrin Khalil
Public Relations, Mashreq Public Relations, Mashreq
Tel: 04 -6083629 Tel: 04 - 6083836
Email: HudaI@mashreq.com Email: NssrinK@mashreq.com
© Press Release 2016
