ARA and Qatar Group to jointly invest in Singapore Islamic REIT
Dec 15, 2009 - PropertyGuru.com.sg
ARA Asset Management and Qatar's Regency Group have collaborated to launch the first ever real estate investment trust in Singapore, and the property will be introduced in a way that all Islamic principles are considered, with the investor's interest coming back to the REIT sector.
The proposed property will consist of service apartments and hotels in Qatar, with an initial planned portfolio of about 164,000 sq m of complete floor area, as confirmed by AXA. The company hopes to get the proposed REIT listed by the second half of next year.
No confirmations have been made regarding the finances. The two companies have not even released an estimate.
All proposed transactions will be closely monitored by DBS Bank.
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To know more how this is really work for you and your clients....
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