Corporate Finance

Structured Funds

NOMW Eskan Real Estate Fund - Makkah

NOMW Eskan Real Estate Fund aims to achieve capital growth over the medium to long term and to achieve attractive returns for investors by investing in one or more of real estate development projects for the accommodation of pilgrims in Makkah Al Mokarramah, manage the project then lease or sell it, by either preparing general plans for development and the constructing residential buildings, and/or sell pieces of land to real estate developers, companies and individuals to carry out construction projects on them.

Asset Class Hospitality
Type of Fund Close-ended Real Estate Investment Fund, in compliance with Islamic Shari'a
Target IRR 12%
Management Fees 1.5%
Carried Interest 30%
Financing Bank Aljazeera Bank (SAR 114 Mn)
AUM SAR 319 Mn

A public investment Fund compliant with Islamic Shari'a, established in Saudi Arabia for the purpose of capital growth through investing primarily in IPOs and shares rights issues in Saudi Arabia as well as investing in other listed companies in the Saudi Stock market which were newly listed during the last three years, provided it complies with the standards of Islamic Shari'a.

Funds commencement date 2 August 2015
Type of Fund Public open–ended investment fund, in compliance with Islamic shari’a
Fund's category Local Stocks
Fund’s benchmark Ideal Ratings
Fund’s sub-manager EFG Hermes Saudi Arabia
Termination Date The fund was terminated and liquidated 14.01.2018
Al Mashaar REIT

The Fund is a shariah compliant closed-ended real estate investment traded fund. Its objective is to provide periodic rental income to its unitholders by investing mainly in developed properties generating income, in addition to growth in the total value of its assets. The fund provides semi-annual income to its unitholders by distributing at least 90% of the fund's net profit. Nomw Capital has Co-founded the Fund with Muscat Capital as well as acting as fund advisor.