Hassan Ziyath, CEO of First National, stated, “The First National Real Estate Fund will invest the raised funds to lease out three floors of H. Sakeena Manzil for 30 years. For this fundraising round, our goal was to raise MVR 18 million. This was structured with 45% equity and 55% debt, with MVR 9.9 million raised through equity (share) sales and MVR 8.1 million through debt (bond) sales. We are deeply grateful for the trust placed in us, as we successfully reached our target with full subscription.”

The fund anticipates delivering an expected annual return of 20% to equity investors, with debt investors set to receive a 12% return over a six-year period.

First National’s CEO, Hassan Ziyath shared, “The fund has attracted a diverse range of investors, including private businesses, philanthropic organizations, and the general public. We are hopeful that upcoming projects will see even greater participation, particularly from local Councils and institutional investors.” He also highlighted the close collaboration with two councils during this round.

In a significant development, First National’s CEO, Hassan Ziyath remarked, “Our fund has received an investment made on behalf of the Cancer Society of Maldives, through a generous donation from an individual. This investment will provide the Cancer Society with a steady income stream, enabling them to continue their vital work. The fund presents a unique opportunity for individuals who want to make a lasting impact by supporting meaningful causes. By investing through our fund, donors can ensure their contributions generate ongoing returns, providing long-term support for the activities of charitable organizations.”

The project's investors will begin receiving returns quarterly, starting in April 2025.