Launch Partners

Launch Partners

Pearl REIF secures Shariah financing

OMAN: Pearl REIF has signed a sale and purchase agreement with Oman Tourism Development on the 31st December 2024 to acquire a building in Madinat Al Irfan for OMR24 million (US$62.33 million). The property, leased to a government-related entity under a 25-year triple-net lease agreement, will generate an initial annual rent of OMR1.59 million (US$4.12 million), with a 10% rent escalation every five years.

Methaq Bank will provide Shariah compliant financing for a 15-year period, valued at OMR15 million (US$38.96 million). Following this acquisition, Pearl REIF’s total investment in real estate properties will rise to OMR118 million (US$306.48 million), representing a 26% increase.

Categories:

Restricted Access

Subscribe NOW and get:

  • Gain unlimited access through all key operating platforms
  • Full access to all listed Islamic funds & fund profiles
  • Unlimited access to all Islamic fund managers
  • Access to all exclusive articles, reports, podcasts & videos
  • Complimentary access to all IFN Investor Forums
Subscribe Now

Suggested for you