Muscat, AMAN REIF (Under Formation) will hold a press conference after tomorrow (Tuesday), 31 December to reveal the details of the fund's IPO at Grand Millennium Muscat Hotel.

The investment in this fund aims to provide recurring income through rental income and capital growth on the back growth in the industrial sector in the Sultanate. The objective of the fund's IPO is providing an excellent opportunity to invest a developed real estate light industry asset. The recent years have witnessed a demand for investment in real estate investment funds in the Middle East, alongside a package of legislations that encourage the investment in this promising sector.

AMAN REIF is established in accordance with the principles of the Islamic sharia, as a closed public fund in the Sultanate. The registered office of the fund is in the Governorate of Muscat.

The goals of the Fund, according to the article association of the Fund's statute, are to provide an opportunity to invest in developed real estate light industry asset, which will also provide recurring income through rental income and capital growth on the back growth in the industrial sector in the Sultanate. This will be done through investing in real estate and assets related to, and special purpose companies that own real estate and assets related to. The whole process including cash, deposits and money market instruments is compatible with Islamic principles.

Real estate investment funds contribute to achieving a number of positive economic effects, in the forefront of which is their ability to contribute significantly to growth, accounting and transparency in the real estate sector. In addition to, the potential to provide less risky investment options in real estate to small and big investors, and to provide regular income to the unit holders. Moreover, it is an effective hedge against inflation.

The establishment of real estate investment funds would attract foreign direct investment in this vital sector, as well as increase the participation of the private sector, which in turn will help stimulate the process of development in vacant lands and increasing the contribution of the real estate sector to the overall GDP.

Source: Oman News Agency