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Al Rayyan II French Property Fund
Through the Al Rayyan II French Property Fund, Dubai Islamic Bank offered its customers a second opportunity to invest in a strategic mix of income producing properties in France. The Fund targets above average returns in the form of investment yields and capital appreciation.
Product Features
Investment Universe: Four high-quality, stabilized commercial properties in Paris let to major tenants with strong credit ratings
Fund Type: Closed-ended Fund
Fund Launch Date: March 2005
Investment Details
Total Portfolio Value: Euro 400 million
Total Equity Offering
(Fund Size): Euro 30 million
Minimum Investment: Euro 50,000 per investor
Holding Period: 4.5 – 6.5 years
Expected Return: 8.00% p.a. distributed quarterly
Expected IRR: 10.00%
Base Currency: Euro
Investment Managers
Fund Manager: Dubai Islamic Bank PJSC, Dubai
Investment Manager: Qatar Islamic Bank, Qatar
Asset & Property Manager: Centuria, France
Exclusive UAE Distributor: Dubai Islamic Bank PJSC, Dubai
Auditors: Ernst & Young, France
Sharia Advisors: Dubai Islamic Bank PJSC, Dubai & Qatar Islamic Bank, Doha
Result of a partial sale of asset within the Al Rayan II French Fund: As a result of a partial sale of asset within the Al Rayan II French Fund, the following has occurred:
- Partial Repayment of 30.925%:
- 15,462 Euros for every 50,000 Euro unit has been repaid back to the investor
- New unit amount will be 34,538 Euros
- Dividend Payment:
- Customer will receive a dividend payment at the rate of 8% p.a. for the period between April 1st 2007 - April 30th 2007 on the repaid amount of 15,462 Euro only.
- Capital Gains:
- There has been a capital gain that has occurred on this transaction for the customer on the 15,462 Euro according to number of units and investment period.