Markaz Crowned ‘MENA Real Estate Asset Manager Of The Year’ For 2021 By Global Investor
In yet another recognition that cements its leadership in asset management in the Middle East and North Africa, Kuwait Financial Centre “Markaz” has been named the ‘MENA Real Estate Asset Manager of the Year’ for 2021 by Global Investor, which recognizes outstanding performance in the real estate sector, in addition to asset management, fund administration, and wealth management, among many others.
The coveted honour recognizes Markaz’s excellence in serving institutions and individuals seeking to unlock the investment potential of real estate asset classes in the region, operating at the highest industry standards, under the oversight of the Capital Markets Authority (CMA).
Markaz brings over 30 years of experience in the real estate sector globally and regionally, with 18 years of actively managing real estate assets across the MENA region. Markaz manages real estate assets of c. KD 300 million in Kuwait, Saudi Arabia and the UAE real estate through funds and client-tailored portfolios
Notably, Markaz manages the Kuwait Investment Authority’s (KIA) National Real Estate Portfolio in addition to Markaz Real Estate Fund (MREF) and Markaz Gulf Real Estate Fund (MGREF), a private placement fund. Ever since its inception in 2003, MREF, a KD 70 million Shariah-compliant income-generating fund investing in Kuwait income properties, has been distributing monthly cash dividends, which stands now at 5%, and generating an unlevered IRR (internal rate of return) of 7.5% p.a. (Latest factsheet detailing information on the fund is available on Markaz website www.markaz.com). MGREF invests in residential, commercial and industrial income-generating properties in Saudi Arabia, the UAE and Kuwait and distributes monthly cash dividends to investors.
Commenting on this achievement, Mr. Bassam N. Al-Othman, Managing Director, MENA Real Estate at Markaz said: “We are delighted to have received ‘MENA Real Estate Asset Manager of the Year’ award, which represents an acclaimed recognition of our commitment to providing our clients with solid investment opportunities.”
Mr. Al-Othman added: “Markaz’s unique ability to bring added value to real estate assets stems from the distinguished strength of our solid team of 27 professionals, who are stationed in Kuwait and in our regional offices in Riyadh and Khobar since 2006, as well as in Dubai and Abu Dhabi since 2010, providing in-depth local market insight, our best-in-class policies and procedures, and our advanced technology platforms for enhanced financial and operating reporting.”
Markaz unleashes added value by acquiring properties based on research to identify targeted sectors and geographical asset allocation, taking into account market insights, trends, supply/demand and risks, and while also managing acquisition risk through thorough legal, technical, operational and commercial due diligence on target properties. It also works closely with property managers to enhance the performance of assets by optimizing rent levels, increasing rent collection rates and efficiency, and improving occupancy, rent levels and tenant retention, as well as managing expenses and maintaining the properties.
Luke Jeffs, Managing Editor of Global Investor, said: “The Markaz Real Estate Fund sets the benchmark in the Middle East region. The low bar to entry, enabling smaller investors to participate, the monthly dividend and the open-ended nature of the fund have continued to its ongoing success, while Markaz’s innovative approach to tenant retention has further contributed to the success of this best-in-class real estate fund.”
Markaz’s excellence and market-leading performance in asset management, investment banking, real estate investment, and wealth management have been recognized by more than 50 prestigious awards since its inception. In 2021, it was named the ‘Best Investment Bank in Kuwait’ by Global Finance Magazine for the 10th time in 11 years.
This press release has been prepared for informational purposes on Markaz and its activities and is not prepared for promotional purposes. Investments are subject to market risks and there can be no assurance or guarantee on future performance and returns; and potential investors need to review information available in official investment documents before making any investment decisions. More information can be obtained from the Markaz website (www.markaz.com) or by contacting us on (+965 2224 8000).
Kuwait Financial Centre “Markaz”
Established in 1974, Kuwait Financial Centre K.P.S.C “Markaz” is one of the leading asset management and investment banking institutions in the MENA region with total assets under management of over KD 1.03 billion as of 30 September 2020 (USD 3.33 billion). Markaz was listed on the Boursa Kuwait in 1997.