The Palmon Group has launched a real estate investment fund for qualified investors.
The Palmon Group, which specializes in logistics and retail services in the country, has launched a real estate investment fund, REIT, for qualified investors after it obtained 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 returns. good annual.
Manhur Lahori, founder of the group, said: The investment fund’s strategy aims to focus on logistical, industrial and commercial assets of 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%.
Lahori added that the group aims to list the investment fund in the financial market by 2020.
He explained: The investment fund manages assets worth 215 million dirhams distributed over 19 real estate.
This article was originally published by Al Khaleej