The Fund’s inaugural project successfully raised MVR 18 million to secure a 30-year leasehold interest in a prime commercial property. Revenue generated from this asset supports quarterly dividend distributions to equity investors and interest payments to bondholders.

Structured as a hybrid real estate investment vehicle, the Fund combines both equity and debt instruments, with a capital structure comprising 55% equity and 45% debt. The debt component is issued as amortizing bonds with a six-year tenor, offering a fixed quarterly interest rate of 12% per annum. On the equity side, the Fund targets an annual return of 20%, distributed quarterly to investors.

To date, the Fund has disbursed MVR 1.37 million in combined returns to both equity and debt investors.

At the meeting, CEO Hassan Ziyath delivered a detailed overview of the Fund’s past performance, outlook, and governance strategy.

Managed by First National Finance Corporation, the First National Real Estate and Hospitality Fund is licensed by the Capital Market Development Authority (CMDA) and operates in full compliance with regulatory standards. The Fund aims to offer portfolio diversification and a reliable income stream through real estate investments, providing investors with exposure to the Maldives' dynamic and expanding property market.