DOHA, Qatar, /PRNewswire/ -- Investment House, one of the leading Shariah-compliant investment banks and asset managers in Qatar, closed their fourth Global Wakala Trust Program with Inovalis SA, as manager.
Investment House and Inovalis have closed previously three series of the Wakala Trust Certificates with proceeds being invested in Paris and Malaga. The equity invested in the Global Wakala Trust Program, is currently around 40 million euros. The Program is managed by Inovalis that has achieved an 8% annual return with 5 years holding period investing in income generating office buildings in Germany, France and Spain.
Inovalis acquired EurocomSur, an office building of 7,000 m2 of office space, in the heart of the business district of Malaga. Three consulates (Kingdom of Saudi Arabia, the United Kingdom and Germany) and to the Government of Andalusia have offices in EurocomSur. The building comprises 7 floors of lettable area and 79 parking spaces.
"Our partnership with Inovalis reflects a winning combination between our capacity to raise funds and provide a diversification to our clients to a well thought and diligent investment process provided by Inovalis. We are delighted to see such positive deal activity during this period of time. We look forward to continuing to work with Inovalis on future transactions. This is in line with our strategy to provide investors with solid income generating assets class delivering superior returns with adjusted risk," stated Vice President – Business Development Khalifa Bin Khalid Al-Sowaidi.
Allen Merhej, the Managing Director of Inovalis Rep Office in the GCC, commented that "we value the relationship with Investment House and we aim to continue in selecting attractive assets in France, Germany and Spain that meet our partners' financials targets. The Wakala Trust Program has been a success with our partners.''
-Ends-
About the Investment House
Established in 2001, Investment House is a regulated investment company operating under the umbrella of Qatar Central Bank, in accordance with the Shariah principles. Investment House offers Investment Banking, Asset Management and Wealth Management services and products designed for individuals and institutional investors.
For further information on Investment House www.invhouse.com
About the Inovalis Group
Founded in 1998, Inovalis is an integrated real estate services group. Specialized in the creation of real estate and financial investment funds, active in particular European markets, it operates in a logic of yield generation and value creation on behalf of public and private investors. The group currently has 12 million square meters under management worldwide, representing €7 billion of real estate and financial assets under management.
For further information on Inovalis www.inovalis.com
© Press Release 2021
Disclaimer: The contents of this press release was provided from an external third party provider. This website is not responsible for, and does not control, such external content. This content is provided on an “as is” and “as available” basis and has not been edited in any way. Neither this website nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this press release.
The press release is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Neither this website nor our affiliates shall be liable for any errors or inaccuracies in the content, or for any actions taken by you in reliance thereon. You expressly agree that your use of the information within this article is at your sole risk.
To the fullest extent permitted by applicable law, this website, its parent company, its subsidiaries, its affiliates and the respective shareholders, directors, officers, employees, agents, advertisers, content providers and licensors will not be liable (jointly or severally) to you for any direct, indirect, consequential, special, incidental, punitive or exemplary damages, including without limitation, lost profits, lost savings and lost revenues, whether in negligence, tort, contract or any other theory of liability, even if the parties have been advised of the possibility or could have foreseen any such damages.
