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Article: Distressed property funds offer big return.
- Article from:
- Gulf News (United Arab Emirates)
- Article date:
- August 15, 2009
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Byline: Dr T.P. Ghosh, Special to Gulf News
Cayman Island-based Mayfair Wealth Management (MWM), a financial and investment advisory services provider, announced the launching of a new Sharia-compliant Distressed Property Fund (DPF) worth $50 million (Dh183.7 million) in the UAE with an expected return of 12-15 per cent.
In my earlier articles in Gulf News, I advocated the setting up of real estate special purpose vehicles (SPVs) to provide financial support for distressed property developers. The management of distressed property funds promises a handsome return from rental income and capital appreciation.
Mayfair has adopted the same strategy ...