First Group unveils Shariah-compliant property fund

The Emirates Opportunity fund, considered to be the first of its kind, gives investors the chance to invest in a diversified portfolio of real estate asset classes in Dubai and the Northern Emirates of the UAE by taking advantage of opportunities presented by undersupply of housing and population boom in these areas. First Group's commercial director David Scott said the fund was launched on the grounds that there was a shortage of Shariah compliant investments and high demand for them. "People wanted Islamic products and this fund has been accepted as positioning itself as taking a s...