Abu Dhabi Skyline/Bloomberg
The investment was financed through a combination of equity and a Shari’ah-compliant financing facility, with Ajman Bank as a strategic seed investor and sole financier.
Tuesday 21, May 2019 BY KUDAKWASHE MUZORIWA
Ajman Bank has partnered with Rasmala Investment Bank to launch Makaseb Real Estate Investments.
Rasmala Investment Bank stated that the first transaction under the new entity has resulted in the acquisition of an outstanding income yielding portfolio of UAE logistic and residential assets for a net purchase price of AED 327 million ($90 million).
Mohamed Amiri, the Chief Executive Officer of Ajman Bank, said, “We are extremely pleased to partner with Rasmala in bringing unique innovative investment solutions to UAE investors.”
Additionally, the investment is expected to offer an impressive yield of over six to seven per cent per annum for investors with exit options.
“We are always keen to offer our clients attractive and diverse investment opportunities with the core objective of delivering strong return on investment,” added Hany Sabry, the Head of Investment Banking for Ajman Bank.