The first quarter payments reflect the results of operation from Feb-March and resulting in MVR 22.87 per share. The bonds are issued at an interest rate of 12% amortised over 6 years.

Real Estate Fund is a CMDA-approved fund investing in Real Estate and Hospitality assets, offering both equity and debt investment options to cater to a diverse group of investors. Real Estate Fund was launched in December 2024 and attained full subscription by raising MVR 18 million from 126 investors. The fund aims to strategically invest in valuable assets within the real estate and hospitality sectors to ensure attractive and sustainable returns for its investors.

The Real Estate Fund has also appointed its first Board of Directors. Three distinguished professionals, Dr. Ibrahim Mahfooz and Ahmed Hassan Didi representing Class B shareholders and Ahmed Nasir as Independent Director are amongst the newly appointed Board members. In addition to the approval of the proposed dividends, the Board resolved to establishment of an Asset Replacement Reserve and made recommendations implement measures to ensure the future viability of the property. These two critical decisions of the board are essential to meet the dividend expectations of equity investors and obligations towards debt holders.

The Fund Manager expressed optimism about the strength of the rental market, highlighting the fund’s ability to maintain similar dividend throughout the year and effectively serve its debt holders. Additionally, a dedicated trading platform will be rolled out this year, aimed at enhancing liquidity for investors as well as accessibility.

Looking ahead, the Real Estate Fund remains optimistic about its returns and is committed to expanding its investment portfolio, aiming to generate enhanced returns and create a sustainable long-term value for its investors. Announcement of next quarter’s dividend is expected in July 2025.