DOHA: Mazaya Qatar Real Estate Development and Global Securities have signed Memorandum of Understanding (MoU) to create Shariah-compliant real estate investment funds in Turkey that will be offered to qualified investors, locally and internationally. These funds will be structured with a particular focus on near completion projects and income producing assets in Turkey.
The MOU was signed at Istanbul Congress Center in Istanbul by Hamad bin Ali Al Hedfa, Mazaya Qatar’s Board Member and Chief Executive Officer, ErolGöker Chairman of Global Securities and and Gaye Braida Fernandez Chairperson of Global MD Portfolio Management.
“We believe Global Securities, with its many accomplishments and firsts throughout Turkish market, will be the right partner to structure and roll-out real estate investment funds in Turkey. Considering the strategic macro relationship and brotherhood between Qatar and Turkey as well as the strong regional interest in Turkish real estate market, we are certain that this new fund structure will attract qualified individual and institutional investors in our region,” said Al Hedfa, Mazaya Qatar’s CEO.
Real Estate Investment Fund structure is relatively new in the Turkish market and is projected to appeal both local and international investors.
“In context of this vision, I believe that this agreement of Global Securities with one of the leading real estate companies of Qatar will breathe new life into the local and international private and corporate investors,” said ErolGöker, Chairman of Global Securities. “We are extremely proud and happy for achieving another first in Turkey with this agreement which is aimed at creating the first international real estate investment fund”.
Gaye Braida Fernandez, Chairperson of Global MD Portfolio Management, said real estate investment fund will be attractive for both local and international investors.
“All the parties to the agreement believe that this strong partnership may set a suitable foundation for the creation of successful real estate investment funds. These funds that we aim to create and manage in line with the strategic partnership, will at the same time let the Gulf investors to invest in real estate through a highly secure financial instrument instead of investing directly into real estate,” said Fernandez.The Peninsula
