Archive for June, 2009
UAE Firm Set To Launch 650m Real Estate Funds
DUBAI Dubaibased asset management firm Signature Group is on the verge of launching several real estate funds for investment in the UAE and India totalling in excess of 650 million.
The two Islamic compliant real estate funds are to be launched on the Dubai International Financial Exchange DIFX in the first quarter of 2007. Initially these funds were to have been launched by the end of November.
The group is in the advanced stages of finalising several fund structures: development and rental closed end real estate funds for the Middle East and India and an open ended equities fund for a selected equities market in India. The two Middle East funds and the Indian equity fund will be listed on the DIFX.
The real estate development funds funds that are invested in property under development for the Middle East and India will be the first to be launched said recently appointed board director Rafat Rivzi. Singaporebased Rivzi said the funds which will be distributed and marketed globally via banks are primarily targeted at institutional investors.
We are currently negotiating distribution agreements in the Gulf region and other parts of the world said Rizvi.
Interest from investors has been received from Korea Japan and Singapore and as well as from Australia. Demand for Islamic funds although growing is still slower however than in Europe he said.
Executive director for Signature Group and the European representative based in Paris Emmanuel Drujon said significant demand for the funds was coming from the UK and Switzerland as well as from large pockets in France and Germany. He said the funds offer the opportunity to invest in the Gulf and subcontinent with the same security as similar European funds.
Drujon who was recently appointed to Signatures board of directors said that the interest marked by international investors was one of the reasons why he chose to join the group.
Rizvi added that Signature is very committed to the development of the fund industry in the UAE it was a silver sponsor for this years Funds Summit 2006 in Dubai and hopes to be a leading player in the region.
He also said that a large part of the added value derived from its selection of assets and the ability to source those opportunities. In the longer term the group intends to launch funds further afield. We also want to focus on Africa subSaharan Africa in particular but this is a long way off he added.
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Source: IndiaRealEstateblog
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Turning In A Profit From Real Estate
Many times homes that are in disrepair need landscaping driveways exterior storage or even just some basic plumbing and electrical repairs are good investments. Those that have structural damage need foundation repair or major roof and truss repair are not going to be quite as profitable unless they’re in an area that is climbing fast. This is where a good surveyor particularly one who you have a professional relationship with can pay dividends. If you are not that fortunate then any reputable builder or construction worker should be able to offer advice as to the structural integrity of the property. Time was in late 90′s that it didn’t matter so much if you made a mistake in buying a property. The market was so hot that you could still make a profit on your mistake. However those days are gone for the moment. Make a bad mistake now and you could be saddled with a house that you cannot sell for the price that you want.
Property auctions are exactly like any other auction. Whoever wins the bid win the house. You should be able to find out about property auctions from your local real estate agents or the internet. You should be given information on the lots i.e. houses that are coming up for sale. You do have time to visit the properties beforehand. Property auctions can be very lucrative or they can be the opposite. It may be worth going with someone else who has experience of real estate auctions for the first few times just so that you get to know the process and pick up some experience.
Those real estate investors who are handymen and repairmen or even carpenters are the ones that are going to be able to make the most profit. Any time that you can do the home improvement or the property improvements yourself you’re more likely to make money. If you have to hire a contractor or a construction crew it’s going to cost you more than if you did it yourself. A lot of home repair can be done by the homeowner themselves without any legal consequences. This means that you can do all of the landscaping plumbing and quite a few other types of repairs if you’ve got some general tools and a basic knowledge of home repair. Electrical repairs Check your state laws before purchasing any property that needs major repairs so you’re thoroughly aware of what you can do as a homeowner or real estate owner yourself.
Some real estate investors are learning to work well with construction crews. Most construction and remodel crews will want to be paid as the job is finished and some may even need partial payment during the job itself. Some investors have found that forming a team with a good construction or repair crew allows them to share a bit of the profits and get the work done for less. This means that you will go part usually a percentage of the profits of the sale of the property to the construction or repair crew. But if it means that you don’t have to put outofpocket expense before the sale it can work out quite well.
About the writer: Alexander West holds the Financial Planning Certificate. One of his passions is learning and teaching people about finances. You can read the rest of this article and join others creating more wealth in their lives at Click Here
Trading Up In Tampa
Tampa Bay is an area that is full to the brim with amazing homes and with new homes being built all the time there is pretty much an endless selection to choose from. However this may be a moot point as the newly proposed property tax laws may severely affect the average home owner’s ability to purchase a new home in the Tampa area. This reality could have some fairly alarming effects on both the real estate and business sectors as both have a huge and vested interest in the success of Tampa’s home sales. This will also have a huge effect on who is able to purchase homes as with property taxes on the upswing it seems likely that the large yearly cost may cause some buyers to shy away from home ownership. Let’s have a closer look at exactly what this proposed property tax bill will mean to home owners and interested home buyers if it does in fact get passed.
The first amendment that is up for consideration is a homestead exemption of 50K to 195K. The idea is that this will replace the current homestead exemption as well as replace the “Save Our Homes” tax plan already in place. The greatest value in this new deal will be home owners whose home value is in the 200 to 300k range. These home owners should see a significant decrease in their property taxes. However in areas like Tampa where homes are starting in the 400K range it really does not seem that the new tax law will have any positive impact.
It would appear that a 60 vote by Florida voters is needed in order for this bill to pass into law. Now the question is is this going to happen? Current opinion is that the bill will not pass with the percentage that it requires and that the government need to rethink the approach to the problem of high property taxes. The question that home owners should be asking is why are the taxes as high as they are in the first place? And what can reasonably be done about the situation? It is apparent that a revamping of the property tax structure is indeed in order and the proposed law only scratches the surface of what really needs to be done.
About the writer: Calum and Kathy MacKenzie are experienced and professional Tampa Florida real estate agents who specialize in helping families relocate to the Tampa area. They’ve lived and worked in New Tampa for eleven years and their extensive knowledge of New Tampa real estate can help make relocation a breeze.