Together the funds are the largest investment vehicle of their kind in the region, and will be used to finance upcoming Al-Futtaim Real Estate projects across the Middle East and North Africa in cities such as Abu Dhabi, Doha and Casablanca. The investment volumes for these projects are expected to exceed $10bn.
The funds use a portion of Al-Futtaim’s $9bn Cairo Festival City, which is currently under construction, as a seed asset. Their structure allows Islamic investors to participate in attractive large-scale mixed-use development opportunities in compliance with sharia law, while receiving the same returns as conventional investors.
You might also like...
TotalEnergies to acquire remaining 50% SapuraOMV stake
26 April 2024
Hyundai E&C breaks ground on Jafurah gas project
26 April 2024
Abu Dhabi signs air taxi deals
26 April 2024
Spanish developer to invest in Saudi housing
26 April 2024
A MEED Subscription...
Subscribe or upgrade your current MEED.com package to support your strategic planning with the MENA region’s best source of business information. Proceed to our online shop below to find out more about the features in each package.