Glasgow-based Jabbar Fund Management has announced the launch of the EUR20m MENA Real Estate Fund, developed in partnership with Acorn Corporate Finance, which is designed to offer a tax e
Glasgow-based Jabbar Fund Management has announced the launch of the EUR20m MENA Real Estate Fund, developed in partnership with Acorn Corporate Finance, which is designed to offer a tax efficient route for investors seeking exposure to the Middle East and North Africa, which it says is one of the world’s most dynamic real estate markets.
The fund, which will make investments in early-stage real estate developments in the Gulf and North African markets, offers a structure that is designed to offer tax efficiency for both Self Invested Personal Pensions and Small Self-Administered Schemes in the UK and high net worth international investors.
The fund is targeting returns exceeding 12 per cent a year and will repay capital and profits repaid after a five-year investment term. Jabbar says the fund’s managers have a strong track record of delivering high returns from real estate investments in the region.
‘Currently we are running several funds in Dubai and Morocco and are keen to further capitalise on the MENA region’s dynamic real estate markets, which are currently outperforming the West’s as a result of high levels of liquidity, government support for tourism projects and underlying economic growth,’ says Richard Faint, Jabbar’s head of business development and operations director of the fund.
‘This fund provides high net worth investors with access to real estate assets in these dynamic markets without the hassle of actual property ownership. Institutions seeking exposure to this part of the world are also interested. We are very pleased with the level of commitment we have had in the pre-launch phase and are on schedule to close the fundraising in October.’
The Jabbar Group, which has headquarters in Glasgow and offices in London, Dubai, and Pakistan, is involved in a wide range of business and charitable ventures across the globe through subsidiaries in the UK, Africa, the Indian subcontinent, Asia and the Middle East.
Acorn Corporate Finance is a wholly-owned subsidiary of Acorn Capital Partners, a corporate finance and private equity firm specialising in fund management and fund-raising advisory. It has been involved with funds with assets exceeding GBP75m million.
