The First Group is seeking $100m for a closed-ended Shari'ah-compliant property fund aiming to take ...
The First Group is seeking $100m for a closed-ended Shari'ah-compliant property fund aiming to take advantage of runaway United Arab Emirates development. The international property company is launching the five-year fund on the Channel Island Stock Exchange next month, targeting returns of 17%-20% per annum. First Group said it will take advantage of opportunities in Dubai, where there is a chronic undersupply of housing in the middle of a population boom. It will also take advantage of opportunities in the Northern Emirates. The fund will purchase properties within three distinct ...
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