Mayfair Wealth Management extends USD 50 million 'REMNotes' subscription deadline until 29th October 2009

Enlarge Image

RELATED ARTICLES

• Female investors in the Gulf hold USD 40 billion of the region's wealth
• GFH launches Gulf Atlantic Real Estate II- a Shari’ah compliant income producing UK commercial property fund
• NCB Capital launches world’s first Shariah compliant “al Ahli global real estate fund”

Mayfair Wealth Management (MWM), one of the leading financial and investment advisory services providers based in the Cayman Islands, has extended the subscription deadline for its ‘Real Estate Musharakah Notes’ (REMNotes), a Shariah-compliant distressed property fund worth USD 50 million in the UAE, until October 29th, 2009. The move follows the massive demand achieved by the fund among regional investors. Taking advantage of the correction in real estate prices, ‘REMNotes’ is expected to deliver an annual return of 12 to 15 per cent to investors by allowing them to participate in the acquisition of strategically sourced undervalued properties in the UAE.

Based on the Shariah principles of ‘Musharakah’, ‘REMNotes’ gives investors an opportunity to invest in the UAE real estate market in a more secured manner while earning above average returns through future sales and long-term and short-term leasing of the properties. Available to individual, joint or corporate investors for a minimum investment of USD 25,000, the property fund and its progress can be monitored through the semi-annual reports to be published by MWM and distributed to investors. MWM has partnered with E-valuations Chartered Surveyors, a Dubai-based valuation firm certified by the Royal Institution of Chartered Surveyors (RICS), and Mayfair International, a global property consultancy firm from the UK, who will ensure that the properties acquired are efficiently managed and will yield excellent returns.

“The huge demand for ‘REMNotes’ is a testament to the potential of this distress property fund and its attractiveness among investors, who appreciates the simple and ingenious way it leverages the current downtrend in the property market,” said Amani Choudhry, CEO, Mayfair Wealth Management. “We have made a decision to extend the subscription deadline after seeing the massive attention and demand ‘REMNotes’ has garnered across the region, with many individuals and companies still expressing their intent interest to invest. We are confident that this extension will give them ample time make their move and capitalise on this excellent investment opportunity.”

“The region-wide response to ‘REMNotes’, especially from Bahrain and the UAE, has been truly encouraging. We believe that some of the primary driving factors for the growing appeal of ‘REMNotes’ is its Shariah compliancy, spread of risks, high returns, accountability and transparency,” added Choudhry.

In addition to ‘REMNotes’, the leading financial and investment advisory firm also offers a range of core services, including development of Islamic products and services, financial analysis and modelling, and Shariah-compliant trade and project financing, among others. MWM’s programs are designed to allow investors to ‘hedge’ cash by investing in hard assets such as shares, commodities, bonds, properties, and currencies in developed and emerging markets, thereby giving them an opportunity to achieve strong capital gains while protecting them from currency devaluation and inflation.