Markaz Real Estate Opportunities Fund

Fund Objective:
To generate a compounded annual return of 18% over the Term of the Fund, net of all fees, costs or expenses and any applicable taxes; by investing predominantly in real estate development projects in the MENA region that are most likely to benefit from emerging trends stemming from demographics and strong liquidity in the MENA region.

Summary Term Sheet:

Fund Name : Markaz Real Estate Opportunities Fund
Offering  : US$ 200 Million
Life of Fund : 5 years extendable by two 1-year periods
Investment Period : 3 years
Fund Type : Close-Ended
Targeted Annualized
: 18% p.a. over the term of the Fund
Distribution : At the discretion of the Fund Manager, a dividend payout of 90% of the free cash flows upon the liquidation of each project
Minimum Subscription : US$ 250,000
Unit Price (including Fees & Charges) : US$ 1.02
Fund Management Fee : 1.75% p.a. of Committed Capital during the Investment Period and 1.75% p.a. of Invested Capital thereafter
Incentive Management
: 20% after investors receive a compounded annual return of 10% (net of all fees, expenses, and taxes)
Fund Manager : Kuwait Financial Centre, S.A.K. (Markaz)
Closing Date : The initial closing carried out on the 23rd of May 2007, further closing will follow until the 23rd of May 2008.


For more information, these files are available for downloading:

Markaz Real Estate Opportunities Fund Private Placement Memorandum