Itqan Capital paid out 3.75% in dividends to its Real Estate Income Fund-I investors, for the first half of the second year of operations and consistent with its first year’s pay out.
Adil Saud Dahlawi, Managing Director and CEO of Itqan Capital, REIF-I has confirmed the distribution to investors 3.75% in dividends in first half of the year.
“The fund continues to accomplish its strategic objectives by investing in and managing a number of income generating Sharia-compliant real estate projects in prime locations across major cities in the Kingdom,” he said.
“We forecast that the fund will achieve an internal rate of return of 9-11% per annum inclusive of semi-annual distributions throughout its life.”” he added.
A pay out of 7.5% of the REIF-1 fund, which was launched in 2012 had already been distributed to its investors for the first year of operation, and as a result of the success of the fund and positive feedback from its investors, Itqan Capital has recently launched Real Estate Income Fund-II as part of its plan to launch a series of real estate income funds within the same theme.
Already being one of the leaders in providing investment offerings and opportunities to high net worth individuals and family offices in Saudi Arabia, Itqan Capital aspires to be the Kingdom’s preeminent provider of investment offerings to pension funds, foundations, charity organizations, endowments, and private and public companies.