Arabian Real Estate Investment Trust launched
The $200 million Arabian Real Estate Investment Trust (AREIT), a new investment opportunity jointly developed by HSBC Bank Middle East, and Daman, one of the regional leaders in asset management, was launched Saturday.
The fund will be managed by a joint venture company majority-owned by HSBC Bank Middle East Limited and Daman.
Robert McCuaig, Chairman of AREIT Management Limited and Chairman, Advisory Board of Colliers International Holdings (Australia) Limited said: "The vision behind the development of AREIT is that the GCC real estate market will continue to mature in terms of information, transparency and segmentation. This maturity will create a diverse range of opportunities of advantage for a professionally managed investment vehicle."
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