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IREITIslamic Real Estate Investment Trusts
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The emergence of Islamic real estate investment trusts (REIT) in the Middle East, which offer the chance to own shares in a portfolio of real estate assets with a steady paid dividend from the income earned on those assets, may lure investors like Hamdan back to the sector again.
AaAaAaAaAaTo date, we don't have Islamic real estate investment trusts (reit) indexes or commodity indexes, and yet real estate is an important asset class for Gulf investors, and the latter provides the foundation for murabaha contracts.
This regulatory framework should also cater for wide range of Sharia-compliant investment products that include equity, sukuk, various types of Islamic funds with moderate risks, as well as high risk funds, Islamic real estate investment trusts and other alternative investments,' he said.
In the aftermath of the global financial crisis almost a decade ago, more complicated structures replaced formerly straightforward solutions and enhanced the manoeuvring room for Islamic finance towards fields which were formerly exclusively covered by conventional finance, namely derivatives, structured products, hedge funds and the like, and the market saw facilities such hybrid sukuk, Shariah-compliant liquidity tools, Islamic real estate investment trusts and more and is, as of late, also embracing financial technology-based innovation, or fintech.
MANAMA: Bahrain Bourse (BHB) plans to launch a range of Islamic investment products, including a novel equity-based murabaha financing tool and Islamic real estate investment trusts (REITs), its chief executive has said.
Presently, the Islamic financial services industry of Pakistan consists of Islamic banks, microfinance banks, Islamic mutual funds, modaraba [Islamic asset management] institutions, takaful companies and Islamic Real Estate Investment Trusts," says Muhammad Shoaib Ibrahim, CEO of Karachi-headquartered Islamic finance service provider First Habib Modaraba.
Other assets under-utilised by Islamic funds include commodities and Islamic Real Estate Investment Trusts.
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