As real estate has been an asset class much-loved by investors seeking to abide by Islamic principles, our latest stories touch on the diverse strategies employed in different parts of the globe to highlight these opportunities.
In switching its focus in recent years, conventional UK realtor Focus Property Investments is embracing more Islamic dealmaking with its part-cash part-Shariah financing offers.
As a new Shariah compliant investment opportunity being developed as part of an upcoming project on Malaysia’s Langkawi island, the Aman Seterra Sanctuary aims to attract retirees from all over the world.
With its tri-filtered algorithm combing through REITS around the world to pick offerings, tracked by its RITA exchange-traded fund (ETF) for Shariah investors, US-based ETF Bureau is seeking to expand its reach to Middle East clientele.
Proving the viability of this asset class, Bahrain Islamic Bank announced the sale of its real estate investment for BHD14.8 million (US$39.36 million). Meanwhile, KIB Takaful Insurance will purchase Gravity Tower, an investment property in the Sharq area of Kuwait.
Global perspectives
Total valuation of Shariah investments around the world being tracked by the IFN Investor Funds Database had risen to US$515.92 billion as at the end of Q1 2025, with 2,528 funds operated by 479 asset managers.
Pakistan has the most Islamic fixed income funds globally, hosting 36 as of Q1 2025, with US$878.1 million in assets under management (AuM), data from the IFN Investor Funds Database shows. Saudi Arabia leads in Islamic fixed income AuM, managing US$5.24 billion across 18 funds.
Adopting a global viewpoint, a new AI-enabled and Shariah compliant ESG Index is scheduled for launch in June 2025 in Istanbul. The project was announced by the AlBaraka Forum for Islamic Economy, in collaboration with Spectreco.
Fostering growth
The Saudi Arabian Capital Market Authority proposed to allow the offering of special purpose acquisition companies on the Nomu parallel market to encourage more private sector company listings – resulting in new ways to meet financing needs while expanding the range of investment products.
Bangladesh-based Prime Bank Investment will integrate its digital investment platform, PrimeInvest, with Zaytoon Business Solutions’ Village Digital Booths to allow investment opportunities to be more accessible across rural Bangladesh – targeting diverse segments such as women, expatriates (Probashis), Shariah compliant investors and young people.
Fund offerings
Saudi Arabian Shariah compliant alternative investments manager Sidra Capital is launching a private credit investment fund focusing on the mining and energy sector in Australia, to be managed out of Singapore.
Bank Rakyat launched the eGold Account-i – a Shariah compliant online account for investment in gold with 999.9 purity and accredited by the London Bullion Market Association.
UAE’s digital-first Islamic bank, ruya, partnered with Fuze to allow customers to buy and sell cryptocurrencies, including Bitcoin, directly through its mobile app as part of its investment offering.
Contrasting results
Qatari conglomerate Estithmar Holdings announced a net profit of QAR170 million (US$46.7 million) for Q1 2025, up 50% compared to the same period last year, while revenue rose 64% to QAR1.31 billion (US$359.62 million).
Dubai Islamic Insurance & Reinsurance reported that “a material uncertainty exists that may cast significant doubt on the group’s ability to continue as a going concern” after reporting a loss of AED28.41 million (US$7.74 million) for the year ended the 31st December 2024. Its accumulated losses of AED181.41 (US$49.4 million) on the same date represents 80% of the group’s share capital.
Leadership changes
Malaysia saw a slew of top executive appointments – with Nor Daliya Mohd Daud appointed acting CEO at Berjaya Mutual, having left her CEO post at Opus Islamic Asset Management in February 2025. Meanwhile, Opus Islamic’s new CEO is Noor Aini Shaik Awab – formerly executive director and CEO at Hong Leong Islamic Asset Management.
Kevin Wong Weng Tuck was promoted from chief investment officer to be CEO of AmFunds Management, replacing Goh Wee Peng – who has moved to parent firm AmBank to be head of the integrated wealth management unit.
Bursa Malaysia RAM Capital appointed Wan Fadzil Wan Saifuddin as head of investor development, Nor Azam M Taib was appointed CEO at Perbadanan Nasional (Pernas) – a Malaysian government-owned entity which provides Shariah funding to promote franchise activities – while Muzaffar Hisham, former CEO of Islamic banking at Malayan Banking, is to take charge of Bank Pembangunan Malaysia.
