The Palmon Group has launched a real estate investment fund, REIT, for qualified investors after obtaining the approval of the Dubai Financial Services Authority.
The investment fund aims to raise 330 million dirhams as part of its strategy to obtain commercial assets. With good annual returns.
Manhur Lahori, founder of the group, said: The investment fund’s strategy aims to focus on logistical, industrial and commercial assets of a low or stable investment nature in the country, and its primary investment objectives include generating a regular source of income for investors by distributing quarterly profits and targeting an annual return of 8%
He added, “The Fund” accepts investing in assets that are commensurate with its investment strategy in exchange for stocks. This will allow investors the possibility of additional diversification and achieving returns without operational obligations to manage and maintain the property, and the challenge for investors is to access high-value real estate to achieve better returns with an investment value of not less than $ 500,000, noting that the group aims to list the investment fund in the financial market By 2020.
He explained that the investment fund manages assets worth 215 million dirhams, distributed over 19 properties, where logistical assets came first, 62% of that investment portfolio, 23% for industrial assets, 8% for offices, and 7% for housing workers and employees.
This article was originally published by AL Bayan