URGENT - a list of Halal/Islamic real estate funds and investment companies for potential applications

Hello everyone,

I hope this message finds you well.

Are there any individuals in this forum interested in Islamic finance? I am a Real Estate Fund Manager looking to transition to an Islamic and Sharia-compliant investment fund (which uses little to no debt).

I would be curious to know if you know:

  1. A list of Islamic and Sharia-compliant funds and companies to which I can apply, either globally or in the Gulf countries (e.g., Sovereign Wealth Funds such as PIF of KSA).
  2. Information on the criteria for admission (e.g., accepted profiles and requirements). Is a Fund Manager profile sufficient, or is an MBA necessary to increase one's chances?
  3. An idea of the appropriate number of years of experience required to start applying?

Thank you in advance for your responses and assistance and feel free to reach out to me if I can help you with any questions

 
Most Helpful

Arch street Capital advisors is a small US based sharia compliant firm.

 

Arcapita comes to mind. I’d honestly focus on funds with a core strategy since they use mostly equity in their capital stack. As a Muslim myself it’s hard to find a role that doesn’t deal with riba in this industry. It’s be easier if you were open to the services side of the industry so you could do investment sales, leasing, etc since they don’t directly deal with leverage.

Another side note: IMO most of the “shariah compliant” financial products technically fit Islamic law but they go against the spirit of the law. Doesn’t matter what you call it, a guaranteed return is a guaranteed return.

 

Thank you for your response.

Do they hire Fund manager ou something similar (e.g. AM or PE...) ?

Don't you think it is easier and feasable to go to the services side as a Fund Manager ? Some skills must be similar between the 2 jobs right ?

 

I’m a little confused about your exact role. What responsibilities do you have?

In terms of jumping from principal side to intermediary, it’s not very common but should be possible. It seems like you’re based in the GCC so I’m not very sure who the players are and how big they are. If you’ve ever worked with brokers in your current role I’d reach out to them for guidance.

 

It is naive to think that the sovereign wealth funds of the mid-east are shariah compliant.

I know someone who works in the Qatari sovereign fund - when i asked him how they get around paying riba, he gave me a weird look and said..."you know we give out loans right?".

If you can find one - good luck to you.

 

Thank you for your respond !  It's very helpful

Beside your exemple of your friend working in Qatar, I honestly thought that a lot of Islamic banks had some unlevered investment vehicule (with almost no debt or a little) to satisfy their islamic client who wants to invest in halal ETFs and REITs. This would have made my work, as a Fund Manager in RE, satisfying and halal from a religious perspective as well, if i was able to get a job there in the futur. For example, Emirates NBD, HSBC Middle East, and Masraf Al Rayan (based in Qatar), to name a few, offer Shariah-compliant investments for their client, you can see that in there websites. It is logical to think that they might be a specialised team of Fund and investment managers that work and maintain these Islamic funds, right ?

Or am I still wrong and naive to think that ?

 

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