Global Securities and Mazaya Qatar sign Memorandum of Understanding to establish Real Estate Investment Funds in Turkey, which is aimed at creating the first international real estate investment fund in Turkey…

Global Securities, a 77.4% subsidiary of Global Investment Holdings, announced that through its subsidiary Global MD Portfolio Management, it has executed a Memorandum of Understanding (MOU) to set up a strategic partnership with a strong real estate player in Qatar, Mazaya Qatar, to create Sharia compliant real estate investment funds, which will be offered to qualified investors, locally and internationally. These funds, which are intended to reach 250 million dollars, will be structured to focus on projects nearing completion and revenue generating assets in Turkey.

Established in 2008, Mazaya Qatar is a prominent publicly listed real estate investment company in Qatar, with an initial share capital of QR 1 billion. Mazaya Qatar is specialized in the overall real estate investment cycle such as development of residential and commercial assets, including its strategic investment portfolio with income generating assets. In line with its vision to diversify its investment portfolio geographically, Mazaya Qatar is considering partnering with a prominent financial services company in Turkey, with the purpose of structuring Sharia compliant funds in Turkey.

Real Estate Investment Fund structure is relatively new in the Turkish market, and is expected to appeal to both local and international investors. A partnership between Global Securities and Mazaya Qatar should provide a favorable foundation for building, structuring, and rolling-out real estate investment funds in Turkey.

Considering the strategic macro relationship and good relations between Qatar and Turkey, as well as the strong regional interest in Turkish real estate market, this new fund structure is expected to attract qualified individual and institutional investors in the Gulf region, while allowing investors to invest in real estate through a highly secure financial instrument instead of investing directly into real estate.

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