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Friday, 8 February 2008

China Sharia REIT to tap Middle East investors


Singapore-based boutique fund Emirates Tarian is raising $250m from Middle East investors for what could be the first Sharia-compliant property trust based entirely on shopping malls in China, reported Reuters. The real estate investment trust, ETCM Real Assets Investment Trust, will be listed in Singapore in the second half of the year to raise a further $400-500m. Islamic scholars in Bahrain and Malaysia will vet the properties to ensure that they adhere to Islamic principles. The initial portfolio of three malls in Beijing, Tianjin and Changchun, is valued at $350m.
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Alfalah Consulting-Kuala Lumpur: www.alfalahconsulting.com 
Islamic Consultant & Trainer: www.ahmad-sanusi-husain.com 
Islamic Investment Malaysia: www.islamic-invest-malaysia.com

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