KUWAIT CITY : At a special conference attended by a crowd of journalists and media representatives, Al Dhow Investment announced the launching of "Waed Fund for Real Estate Investment" in cooperation with Ajwan Gulf Real Estate, the first product of real estate funds fully compliant with Islamic Sharia. The fund is a promising and distinguished investment product as it provides attractive investment opportunities in the real estate sector in a number of promising markets outside Kuwait such as Ras Al Khaimah, Umm Al Quwain and Ajman, Muscat and Sahar in addition to the markets of Saudi Arabia, Syria and Yemen. This fund is expected to achieve distinctive financial returns with high safety rates and to bring about dividends of no less than 15 percent as a minimum, God Willing.
In a press conference to launch the Fund, Tareq Al Jassim, Vice-President of Al Dhow Investment, said "We are honored of our first cooperation with Ajwan Gulf Real Estate due to their vast experience in the field of real estate investment markets in a number of promising opportunities which enables them to capture real estate chances. "The capital of the fund is promising and ranges between KD 5 million and KD 50 million and will serve as a springboard in the area of real estate investment, which has witnessed recently a big increase in land prices and real estate returns between 100 percent and 500 percent in some countries, indicating the achievement of remunerative returns for investors in the fund for the prospect real estate markets that are considered promising and excellent opportunities."
Luay Al Qattamy, Chairman and Managing Director of Ajwan Gulf Real Estate added: "The fund is a distinctive and rewarding one among other products raised in the domestic market since it will focus on investing in real estate markets in various safe and promising sectors of real estate, meticulously selected in a group of Gulf and Arab countries, under the supervision of specialists in the field of real estate investment and thereby achieve high levels of safety and guaranteed returns, which we expect to vary between 15 and 20 percent. the fund will invest in infrastructure projects in the Gulf States, trading in residential land, as well as light industrial real estate projects and investment in housing and specialized real estate, medical clinics and real estate through the issuance of Islamic bonds."
Tareq Al Jassim expected the fund to witness a great turnout by investors wishing to invest in real estate and promising opportunities in the region. The company has begun to receive many queries and desires of many people to participate in this fund since the start of its announcement.
It should be noted that Ajwan Gulf Real Estate is a closed company founded in 2002 with a capital of KD 6,216,000 and the company's main activity is centered on the sale and purchase, management and real estate investment and the provision of international real estate investment opportunities.
Al Dhow Investment Co that will manage the portfolio and is a Kuwaiti Investment Company established in 1994 with a capital of KD 20 million and it's totally owned by Al Sayer Group as the investment arm of the Group. Al Dhow is one of the most important investment companies in Kuwait that offer safer investment opportunities in such sector.
Meeting customers' needs and a commitment to customer satisfaction is Al Dhow's top priority. The company always strives to provide the best investment products and services to the highest standards, locally, regionally and globally, with the highest return and the minimum risk possible. In order to achieve its objectives, Al Dhow Investment relies on highly efficient, experienced and a trustworthy team of professionals totally dedicated to the job. Al Dhow spares no effort to provide and make the best of each and every investment opportunity, in a healthy work environment which is the key for personal and corporate success alike, in keeping with the development and advancement of all investment sectors.
In addition to assist Al Sayer Group with its expansion plans through analyzing and examining investment opportunities suited to the Group strategies and growth plans, Al Dhow Investment Co strives to maintain its position as industry leader by offering the best investment products and services in Kuwait such as: Jiblah Holding Company, Arabian Coffee (Caribou), Levant Holding Company, Vision Securities LLC, MENA Real Estate Company, United Ahli Bank, Arcapita Bank, Arqam Capital Company, Phoenician Village and United China Mining & Minerals Company. Al Jassim concluded his statement by saying: "the aims and ambitions of Dhow Investment are boundless and "Waed Fund for real Estate Investment" is only part of its non-traditional and diverse investment activities, and constitutes and constitutes a distinct step in the strategic projects with pioneering companies locally and regionally."
© Arab Times 2008
