Fund Objective:

The overall objective of the Fund is to invest in a diverse range of Shari'ah compliant development projects and value added real estate projects located primarily in Turkey and, to a lesser extent, in the countries of the Middle East / North Africa region.

The Fund is a long-term investment vehicle designed to achieve an expected net IRR of 18%-20% per annum.


Fund Strategy:

The investment strategy of the Fund will be to allocate its investments among office, warehouse, retail and residential properties, with an emphasis on residential and mixed use developments that combine both residential and commercial uses.  

Fund Features:

• Focused investments on high growth real estate sectors in Turkey and MENA countries
• All investments are according to Islamic Shari'ah Principles
• US Dollar denominated
• Target net IRR of 18%-20% per annum
• Managed by one of the worlds top real estate managers

 

Fund Investments:
 

Target Sectors 

Fund Facts:

Legal structure:

Closed-ended fund

Offering Period:

February 17, 2008 to March 19, 2008

Initial Unit Price

$1,000

Minimum Investment:

$250,000

Term:

4 Years and three one year extensions

Target Return:

Expected net IRR of 18%-20% per annum

Currency:

US Dollar

Management Fee:

1.95% per annum

Subscription Fee:

2.25%

Manager:

Wafra Capital Partners L.P.

Sponsor:

National Bank of Kuwait S.A.K

Legal Council:

King & Spalding

Domicile:

Cayman Islands

Risk Level: