Emirates Bank offers Shari'a compliant real estate fund to its affluent clients

The Fund is open to institutional and individual investors and invests predominantly in physical real estate throughout the UAE, whilst retaining the option to invest in markets outside of the UAE. The fund has been met with strong demand both from national and international investors since its launch in June 2005. The assets in the fund have grown to approximately USD 100 million.

The product is now available for investment to the Al Shaheen clients and for this offering, Emirates has lowered the minimum subscription size to USD 25,000. This investment offering now enables the priority banking clientele the opportunity to benefit from the growth and performance of the Fund as a result of the growing UAE property market.

Mr. Louis Scotto, General Manager Retail Banking said, "Latest developments in the UAE market have highlighted the increasing popularity of real estate as an asset class. High capital requirement has prevented the average investor to include local property among their assets of choice. Al Shaheen now offers investment into the property fund at a minimum primary market investment of USD 25,000."

The fund is a Jersey registered fund with monthly subscriptions and redemptions and targets a dividend of 6 - 8% per annum. In addition, investors may also see the value of their investment increase. Fund assets and transactions are Shari'a compliant as advised by the Emirates Islamic Bank's Shari'a Board.

The UAE has been one of the market leaders for property developments and innovation in the region. The huge growth in demand for residential and commercial properties continues to provide many interesting and potentially profitable opportunities to astute investors.