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Property Income Fund launched by Bank Muscat

: Monday, June 09 - 2014 @ 12:58

Bank Muscat has announced the launch of the GCC Property Income Fund, a fund managed by the lender’s asset management division, to harness opportunities in the property market, Times of Oman has reported. The fund will invest in income yielding properties that generate a stable annual yield of 7-8%, Bank Muscat said. The fund completed recently its first transaction by acquiring Mövenpick Hotel Jumeirah Beach, a five-star hotel located in the beachfront area of Jumeirah Beach Residence in Dubai.

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Monday, June 9- 2014 @ 12:58 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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