Eskan Bank which is based in Bahrain announced that it is in the process of finalizing the legalization of its latest real estate investment trust (REIT) with the Central Bank of Bahrain (CBB) which will be ready for public offering on November 22nd, 2016.
It is worth mentioning that Eskan bank has completed all the regulatory requirements requested by CBB where Bahrain Islamic Bank has been appointed to be the official bank to receive subscription offerings.
This launch will enable the retail REIT to be officially launched in GCC and available for all interested institutional and retail investors.
On the other hand, Securities & Investment Company (Sico), has been appointed as the lead manager for the public offering and listing of REIT.
Najla Al Shirawi, Sico’s chief executive, stated that REIT is deigned with unique features that will help in improving its attractiveness as well as providing safeguards for investors.