Prudent property investments have, over time, proved to be an important creator of wealth. Property is the one asset class which can provide a contractual income stream plus the capacity for income to grow at intermittent levels by way of upward rent reviews. In addition to rental income streams, investors may also enjoy additional performance through capital growth from the increase in property values.
Emirates Bank International in conjunction with Emirates Islamic Bank and Belgravia Asset Management has recently launched an Islamic Real Estate fund. The Fund is open to institutional and individual investors and invests predominantly in physical real estate throughout the UAE, whilst retaining the option to invest in markets outside of the UAE. The fund has been met with strong demand both from national and international investors since its launch in June 2005. The assets in the fund have grown to approximately USD 100 million.
The product is now available for investment to the Al Shaheen clients and for this offering, Emirates has lowered the minimum subscription size to USD 25,000. This investment offering now enables the priority banking clientele the opportunity to benefit from the growth and performance of the Fund as a result of the growing UAE property market.
Mr. Louis Scotto, General Manager Retail Banking said, “Latest developments in the UAE market have highlighted the increasing popularity of real estate as an asset class. High capital requirement has prevented the average investor to include local property among their assets of choice. Al Shaheen now offers investment into the property fund at a minimum primary market investment of USD 25,000.”
The fund is a Jersey registered fund with monthly subscriptions and redemptions and targets a dividend of 6 – 8% per annum. In addition, investors may also see the value of their investment increase. Fund assets and transactions are Shari’a compliant as advised by the Emirates Islamic Bank’s Shari’a Board.
The UAE has been one of the market leaders for property developments and innovation in the region. The huge growth in demand for residential and commercial properties continues to provide many interesting and potentially profitable opportunities to astute investors.
Emirates Bank offers a full range of retail banking products and services under the ‘me’ brand name. These include: meACCOUNTS (Select/Classic), meDEPOSITS (Term Deposits), meFORTUNES (Draw Certificates) mePERSONAL (Personal Loans), meDRIVE (Car Loans), meCARDS (Credit Cards), meUNIVERSITY (Student-Oriented Banking Products/Services), meLADY (Female-oriented Banking Products) meINSURANCE (Insurance Products), meNRI (for Indian Expatriates), meNRL (for Lebanese Expatriates), and meMILES (Credit Card Loyalty Programme).
In addition, Emirates Bank offers its customers priority banking services through its Al Shaheen Club.
Emirates Bank offers its customers the convenience of banking across a range of channels. which include banking on-line, phone banking and through visiting one of the ever-expanding network of branches across the UAE. It is no wonder that Emirates Bank has been awarded the coveted status of a ‘Superbrand’ for the past three consecutive years.
