Mashreq and Arady launch fund

Dubai - Dubai

Mashreq is in partnership with Arady Properties are set to launch the UAE's first Qualified Investor Real Estate Fund which will be registered in the DIFC.
The Shariah-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 $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.
- business@khaleejtimes.com