(Sukuk.net - Arab Times) Hamad Essa Al Hamad, General Manager of Al Dhow Investment Company stated: "The approval of the Central Bank is the essential step in starting the functions of Waed Fund for Real Estate Investment".

By this approval Al Hamad added: "Al Dhow investment is here by announcing the launch of "Waed Fund for Real Estate Investment" in cooperation with Ajwan Gulf Real Estate, being the fund's advisor", the choice to work in cooperation with Ajwan Gulf real estate as an advisor to the Fund emphasizes Al Dhow's commitment to professionalism, Ajwan was founded in 2002 with capital of KD 6,216,000 its distinguished activities are of buying and selling real estate, management and international real estate investment and the provision of real estate investment opportunities". Waed fund is the first product of real estate funds fully compliant with Islamic Sharia.

Al Dhow Investment Co (K.S.C) will manage the portfolio, it is a Kuwaiti Investment Company established in 1994 with a capital of 20 million KD and it's totally owned by Al Sayer Group as the investment arm of the Group. Al Dhow is one of the most important investment companies in Kuwait that offer safer investment opportunities in such sector.

Meeting customers' needs and a commitment to customer satisfaction is Al Dhow's top priority. The company always strives to provide the best investment products and services to the highest standards, locally, regionally and globally, with the highest return and the minimum risk possible.

The fund is a promising and distinguished investment product as it provides attractive investment opportunities in the real estate sector in a number of promising markets outside Kuwait such as Ras Al Khaimah, Umm Al Quwain, Mecca in the Kingdom of Saudi Arabia, and Syria. This fund is expected to achieve distinctive financial returns with high safety rates on the medium and long terms and to bring about dividends of not less than 15 percent as a minimum, God willing.

It is to be noted that the duration of the Fund is 5 years, beginning on the date the central bank approves the commencement of the fund, and the publication of its foundation, which to be renewed for a similar period according to the fund's manager decisions.

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