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Islamic Finance Briefing - Categorized | Funds, Investment more

Private funds may be allowed to turn Reit

Posted on 22 March 2010

From Business24-7.ae: The Dubai Financial Services Authority (DFSA) may waive its certain rules to allow private property funds, operating within the Dubai International Financial Centre (DIFC), to convert into real estate investment trusts (Reits), according to a top authority official.

“We have had a number of debates with firms and legal representatives who are thinking of starting as private property funds and then metamorphosing into a Reit. But to achieve that we will have to consider certain waivers from our rules, which we might then consider,” Simon Gray, Director Supervision, DFSA, said………………………………….Full Article: Source

 
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