Glasgow-based Jabbar Fund Management today announces the launch of the 20m euro MENA (Middle East and North African) Real Estate Fund.

Developed in partnership with FSA-authorised operator Acorn Corporate Finance Ltd, the Fund provides a tax efficient route for investors seeking exposure to one of the world’s most dynamic real estate markets.

The key points are:

• Investments in early stage real estate developments in the Gulf and North African markets

• Tax efficient structure suitable for both UK SIPP/SSAS funds and high net worth international investors

• Capital and profits repaid after a five year investment term

• Investment strategy of high capital growth with manager’s performance based on returns greater than 12% pa being achieved

• Managers of the Fund have a strong track record of delivering high returns from real estate investments in the region

Richard Faint, Head of Business Development for Jabbar and Operations Director of the Fund states:

“Currently we are running several funds in Dubai and Morocco and are keen to further capitalise on the MENA region’s dynamic real estate markets, which are currently outperforming the West’s as a result of high levels of  liquidity, government support for tourism projects and underlying economic growth.  This Fund provides high net worth investors with access to real estate assets in these dynamic markets without the hassle of actual property ownership. Institutions seeking exposure to this part of the world are also interested. We are very pleased with the level of commitment that we have had in the pre-launch phase and should be on schedule to close the fund raising in October. ”

Jabbar states that they welcome approaches from institutional investors seeking exposure to real estate in the region and already have an expression of interest from a major investment bank wishing to co-invest.

Contacts

Richard Faint
Jabbar Fund Management
Titanium House
Braehead Business Park
Kings Inch Road
Glasgow
G51 4BP

Phone:     +44 (0) 0141 886 6056
Fax         +44 (0) 0141 886 6098
Email:        Richard@jabbargroup.com

Harry Dutson
Acorn Corporate Finance Ltd
Bollin House
Riverside Park
Wilmslow
Cheshire
SK9 1DP

Tel:         +44 (0) 870 122 5420
Fax:         +44 (0) 870 122 5421
Email:         mail@acorncapital.co.uk

About Jabbar Group

Jabbar Group is a holding company with headquarters in Glasgow, UK, and offices in London, Dubai, and Pakistan. Through its sister companies, in the UK, Africa, Indian sub-continent, Asia and the Middle East, Jabbar is involved in a wide range of business and charitable ventures across the globe.

The Jabbar Group was established to create world class global business enterprises with a view to funding charitable trusts which promote ethical values.

The group’s trading activities presently encompass a wide range of business activities including:

» Software development
» International property investment and development
» Power generation projects
» International trade - import and export
» Media and leisure
» Social and charitable activities

Jabbar’s Directors maintain extensive business and political contacts drawn from across these sectors in Asia, Middle East, Pakistan and the UK.

Currently the group’s mobile software company, Picsel Technologies, is engaged in a dual flotation on the London and Tokyo stock markets, scheduled for Q4 2008, and brokered by Morgan Stanley in the UK and DAIWA in Japan. The estimated value of the company on flotation is $800m.

The founders of Picsel are also founders of and main shareholders in Jabbar Group. The proceeds of the sale will be utilised in expanding Jabbar Group’s investment activities as well as enhancing the charitable and social interventions.

Since 2002, Jabbar has been active in the real estate market in Dubai and now brings its expertise to Morocco and Egypt through Real Estate Funds and direct investments in development projects.

About Acorn Corporate Finance

Acorn Corporate Finance Limited is a wholly owned subsidiary of Acorn Capital Partners Limited, which is a corporate finance and private equity firm specialising in fund management and advice to and the raising of finance for companies that have strong growth potential.

Acorn was established in 2000 and has 4 key managers who each have at least 25 years corporate finance experience in fields such as fund management, private equity, acquisitions and mergers, flotations and corporate restructuring.

Acorn has been involved in funds worth in excess of a total of £75 million and has secured over £70 million of investment in over 70 companies as part of its corporate finance activities.

Acorn is authorised and regulated by the Financial Services Authority for fund management and corporate finance activities, is a full member of the British Venture Capital Association and an approved adviser for the PLUS Market.