National Bank of Oman and Principal Global Investors to Discuss Real Estate Investment in Light of COVID-19
Continuing to be at the forefront of learning in the banking industry, National Bank of Oman (NBO) held an online event with Principal Global Investors, a US-based leading institutional asset-management organisation. Entitled ‘Real Estate Opportunities and Challenges’, the discussion focused on the impact of COVID-19 on the global real estate market and opportunities for Omani investors world-wide. Led by Indy Karlekar, Ph.D., Senior Managing Director, Global Research & Strategy at Principal Real Estate Investors, it was the latest in a series of virtual events the bank is holding that aim to shed light on the economic impacts of COVID-19, while at the same time supporting its customers to make empowered financial decisions.
“At NBO we aim to take a proactive role in our customers financial lives, helping them to steer their portfolio to ensure their long-term financial security. This is especially important today, in light of COVID-19, which continues to impact both individuals and the wider market. Yet although there are challenges there are also opportunities, and this call was about identifying the right ones,” said Yaseen Hassan Al Lawati, CFA- Head of Investment Banking Division at NBO. “With such events, we will continue to bring in global experts to help our customers make sound investments, while safeguarding their portfolios during turbulent times. It is also part of our commitment to shape the future of the banking industry, while supporting Oman’s economic development.”
The conference call touched on four timely topics, namely; the impacts of COVID-19 on the global real estate market; the opportunities available for Omani investors to access in global markets; and the opportunity cost of real estate investments. As Senior Managing Director for Global Research & Strategy at Principal Real Estate Investors, the dedicated real estate unit of Principal Global Investors, Dr. Karlekar’s career spans 17 years. Starting as an Economic Analyst at The Economist Intelligence Unit, he has since held senior research and strategy positions in several high-profile organisations in the industry, as well as being a member of the Principal Global Investors Economic Committee. He received a Ph.D. in economics from University of Cambridge and is a member of PREA,NCREIF and AFIRE.
NBO hosts and partners with a number of conferences and events that add value to the development and diversification of the economy. The bank is also at the forefront of a nationwide call to action for the fight against the ongoing outbreak. This includes an OMR 1 million relief initiative for health services, as well as financial aid packages for its customers struggling from job loss or salary reduction as a result of the pandemic.
National Bank of Oman
Founded in 1973, National Bank of Oman was the country’s first local bank, forging a rich history with Oman’s local businesses and its economy at large. Today, it is one of the largest banks in Oman, with a paid up capital of OMR (Omani Rials) 110.8 million (US$ 288 million) and a regulatory capital of OMR 377.8 million (US$ 981 million)*.