Somali Investor Launches USD 200 million Real Estate Fund

[SAK1]

His name is Sulaimen Dualeh. He is a Somali millionaire property investor and his company is the well established London based -
Integrated Property Investments Ltd.

''The company is flexing in preparation for entry into the market this year. The firm is seeking a dual listing in the Nairobi and Dar es Salaam stock exchanges.

Managing Director, Mr Suleiman Dualeh told Real Estate that East Africa has developed a vibrant property market, which investors, both local and international, want to be part of. "We have applied to the Capital Markets Authority at the NSE and the Capital Market and Security Authority at the DSE for approval for the floatation of a REIT, and we are waiting feedback from them".

We need more people like Mr. Dualeh.

http://www.eastandard.net/restate/index ... 1143989112

His company website - http://www.ipiltd.com/index.html

[kambuli]

Sak,

Is that the guy who retired from the UN long time ago???

[SAK1]

Sak,

Is that the guy who retired from the UN long time ago???

Not the same man. This one is a private businessman.

[ms.nalia]

awwwwwww...my uncle!!!!!!!!!

[Executive]

Masha'allah, I'm really impressed.

Their CV's http://www.ipiltd.com/omar.html
http://www.ipiltd.com/suleiman.html

[SahanGalbeed]

Walle oo ma dhulbahante baa ninkaasi ?
Halkuu ka dhisaya guryahaas?

[kambuli]

Sahan,

Abtigaa afka ka jeedi, yuu ku qaloocan afkuye!

[Executive]

SahanGalbeed

Why do you care about his qabil? Dont bring qabil into this.

[The_Emperior5]

executive ninku shaqo ma na siinaya dee

[Executive]

^Oraad inadeerka Dahabshiil waydiiso Shaqo

[The_Emperior5]

^Oraad inadeerka Dahabshiil waydiiso Shaqo

dahabshiil hj ba safka uu tagaan

ka dhuloz buu ilahay noo barakeeye

[Broccoli]

just because his launching a $200m fund doesnt mean he has $200m.
also this fund wont get off the table in a good while so dont expect too much from it.

[Aerosmith]

Mr Dualeh is admirable and charismatic fella. I must say I liked and enjoyed the speech he gave to the prospective somali investors here in Nairobi. What I am worried about is his conviction and belief REIT listing will happen in NSE soon. It will take a good year or more before any such collective investment schemes is listed in Nairobi given what the country faced recently. There was even an article recently on the daily business wire here about further delays in the process and would have mentioned if they allowed Q/A session for the meeting.

I just hope he isn't following the likes of British Knight Frank who themselves wanted to enter the market with $300m African REIT war chest, bulk of it going to the kenyan real estate market. Knight Frank if i am not mistaken is still unable to raise the money. Moreover, they already have presence in the country with prime properties and management rights.

The Kenyan real estate market still has room for more investors, albeit the end is nearing and correction is near. This isn't a market for flippers. Expected ROR is around 30-40% which is still above your average reit returns.

Good luck to Dualeh, we need more of his likes.

[surria]

acuudibilaah, why is it horta that all dhuloz are into realstate? yaab badanaa, there was that guy also from the US who was crowned the top realtor in the US. And all these years I thought that they were all reer baadiyo dadkaqalato, lol.