Eskan Bank mandates SICO to list debut REIT

Dubai:

Eskan Bank said it has appointed Securities & Investment Company (SICO) as lead arranger for the first real estate investment trust (REIT) on the Bahrain Bourse, and only the second Sharia-compliant listed REIT in the Gulf region.

Eskan Bank’s REIT will consist of two income-generating and unleveraged properties currently owned by Bahrain Property Musharaka Trust (BPMT) which was formed in May 2011, in collaboration with reputable institutional investors and high net worth individuals.

A listed REIT is a regulated investment vehicle that invests directly in real estate with its units traded like a stock on exchanges. REITs generally provide investors with access to real estate, a regular and stable income stream, diversification, and enhance the liquidity of their portfolios.