Asia's leading Islamic real estate fund has been established through a joint partnership between Singapore-based Pacific Star Group and the Kuwait Finance House, the two firms have announced. They said the Baitak Asia Real Estate Fund would be worth $600 million once fully invested, with its focus on prime residential and commercial sites throughout mainly Southeast Asia.
Pacific Star's fund activities manager Benett Theseira said the fund would have a particular focus on property in Malaysia, with an unnamed "landmark" project in Kuala Lumpur its first investment.
