OPPORTUNITY FOR INVESTORS TO OWN REAL ESTATE IN OMAN

The prospectus is one of the initiatives for economic diversification

MUSCAT: The Capital Market Authority (CMA) has approved the first prospectus of Oman’s first Real Estate Investment Fund named (Aman REIT).

This Real Estate Investment Fund provides options for investors, including the companies and individuals to invest in real estate and to own investment units. It also gives an opportunity to foreign investors to indirectly own real estate in the Sultanate.

REIT represents a qualitative addition to the Gross Domestic Product (GDP) which enhances the investment opportunities in the real estate sector. These funds encourage investors to enter the realty sector and to invest in the same, which would boost foreign investments and attract foreign capital.

It is one of the initiatives for economic diversification which is one of the outcomes of Innovative Financial Lab (Workshop). The prospectus indicated that Aman Fund will offer not less than 100 million investment units for public offering at the rate of OMR0.102 a unit including OMR0.002 as expenses for the issue of each unit.

The units will be on public offering from January 2 to January 16, 2020. The minimum underwriting in the fund shall not be less than 1,000 units from the units under public offering and not more than 10 million units for individuals and for the legal persons, the regulation indicated that the minimum shall be 10, 000, 100 units and maximum 20 million units.

The prospectus includes all material information that help investors take the proper decision in terms of investment in the units under public offering.