Third Islamic Real Estate Finance Middle East conference opens tomorrow

Three workshops were held today (December 17, 2005) ahead of the two-days conference that will feature eight session. More than 20 experts in the real estate field participated in yesterday's workshops that featured various topics including Islamic finance structures, tax efficiency and legal documentation issues, challenges facing markets in US and North America, among others.

Conference director Mohaned Abdullah said: "The workshops discussed tax considerations, restrictions on foreign investments, legislation - key issues and new opportunities, as well as Investment risks. The first workshop debated how Sukuks fit with Islamic law, as well as structure of deals and the most suitable sectors for Sukuk."

He added: " The second session discussed the effect of US economic growth on commercial real estate and the challenges facing Shairah compliant real estate while investing in the US and North America. The third session highlighted the opportunities of the Japanese property market and whether it is the right time for Islamic real estate investment."

Mr. Abdullah said: "Following on from the workshop, the two-day conference is set to analyse and discuss the salient issues from the global real estate industry. Each sector of the major geographical regions such as Europe, North America, Middle East and the Far East will be examined extensively; detailing strategies for successful investment as well as uncovering areas of great potential that as yet remain untapped."

He concluded: "There will be considerable focus on the various GCC markets. Especially that the GCC real estate sector is booming with considerable inflows coming from the repatriation of funds into home markets."