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3 Year Shari'ah Compliant Certificates in relation to the Tunis Bay investment fund
Summary Terms:
- Product: US Dollar denominated emerging market real estate investment opportunity in an infrastructure project in Tunisia named “Tunis Bay” which has a target return on investment of 80% anticipated over the investment period. Tunis Bay is located in the north coast of Tunis city, where the complete development of the project will take place.
- Investment Certificates: 1,000,000 investment Certificates
- Certificate Price: USD 100 each
- Currency: United States dollars
- Minimum Investment Amount: USD 50,000 and multiples of USD 25,000 thereof
- Underlying Investments: 1,000,000 shares equating to US$100,000,000 out of a total offering of US$375,000,000 in Tunis Bay Investment Company, a Cayman Islands exempted company established by Gulf Finance House BSC with the principal purpose of investing in the social and business infrastructure of Tunis Bay. Based on the conceptual master plan, Tunis Bay will include the following components:
- The Marina
- Retail Piaza
- Residential Province
- The Golf Course Community
- Educational community and Medical Center
- Offices
- Investment Period: Anticipated period of three years with possible extension of two successive one year periods.
- Subscription Start Date: May 11th 2008
- Subscription Closing Date: July 11th 2008
- Expected Maturity Date: July 11th 2011
- Redemptions: At maturity only
- Financial Advisor to Tunis Bay Investment Company: Gulf Finance House BSC
- Investment Manager to Tunis Bay Investment Company: Gulf Finance House BSC
- Distributor: Dubai Islamic Bank (DIB)
- Sharia Advisor: Dubai Islamic Bank Sharia Board
- This is a summary of the transaction only and shall always remain subject to the terms and conditions of the Private Placement Memorandum and other transaction documents.