The Pearl REIF Overview
Pro stress-test →The Pearl REIF is a closed-ended Shariah-compliant real estate investment fund in Oman that generates income from long-term real estate rentals and capital growth. It was formed by Oman Investment Authority (OIA) and Omantel and approved by the Capital Market Authority (CMA) to offer investors large-scale, income-producing real estate opportunities.
Strategic Profile
Pro stress-test →The fund has a total asset value of OMR 90,641,000 (approximately USD 235 million) and is Oman's largest and first REIF that avails the Islamic Ijara financial facility. At initiation, the fund has two marquee tenants: Omantel (which has confirmed a definitive agreement for the sale and leaseback of its iconic headquarters building) and Lulu Hypermarket Salalah (with a long-term lease agreement).
Competitive Landscape
Pro stress-test →Pearl REIF is the third Real Estate Investment Fund launched in Oman, following Aman REIT (launched Q1 2020) and Oman REIT (launched 2021). The fund differentiates itself as Oman's largest Shariah-compliant REIF with government backing and strong anchor tenants.
Industry Context
The Pearl REIF operates in Real Estate Investment Funds / Islamic Finance.
Key facts
Founded: 2022 · Headquarters: Muscat, Oman