“Sukuk Al Musharaka” issued by Qatar Real Estate Investment Company

Qatar National Bank (QNB) and QNB Al Islami declared the successful close of “Sukuk Al Musharaka” issued by Qatar Real Estate Investment Company (QREIC).

According to the Peninsula, the sukuk were issued through QREIC Sukuk LLC, a Special Purpose Vehicle (SPV) incorporated at the Qatar Financial Centre (QFC). It

The transaction generated orders that exceeded the $100 million initial funding by more than 4 times. Three funding tranches with a total remaining value of $170 million will follow over the next 10 months.

Qatar Real Estate Investment Company is a Doha-based company engaged in setting up housing projects and complexes, as well as buying and selling lands. The company's principal activity is the establishment of residential compounds and projects for rental purposes, purchase of land and developing it for resale. The company also deals in management of residential compounds.