An investment Fund unit means the interest of the holders in an investment fund consisting of units (including fractions of a unit), and each unit shall be treated as representing one undivided interest in the assets of an investment fund.

The offering of units in investment funds may be a public offer or a private placement.

Yes, a notification to the Authority must be made in the form specified in Annex (7) of the Investment Fund Regulations, and before at least 15 days of the proposed date of offering. Requirements of a private placement referred to in paragraph (a) of Article (76) of the Investment Funds Regulations must be met.

Any person seeking to establish, and offer units in, a public fund must submit an application to the Authority which contains the information specified in Annex 4 of the Investment Funds Regulations. The Applicant must be an authorised person that is authorised to carry out the activity of managing.

A fund manager is an authorised person that is authorised to carry out managing activities and is responsible for the administration, of the assets of an investment fund, managing the fund's businesses and offering its units.

The fund manager must be an authorised persons to conduct the activities of management.

The contractual relationship between the potential unitholders and the fund manager is established by signing the terms and conditions of the relevant fund.

A person subject to provisions of these Regulations may appeal to the Committee for the Resolution of Securities Disputes as stated in Article (25) of the Capital Market Law in respect of any decision or action that the Authority takes under the Investment Funds Regulations.

The offering of private real estate investment fund's units is deemed private if offered as per the provisions set forth in part 4 of the Investment Fund Regulations.

These Regulations aim at regulating the establishment, offering, and management of Real Estate investment Funds, protection of Unitholders rights and the application of disclosure and transparency rules. These Regulations should be read in conjunction with and in addition to the Authorised Persons Regulations and the Securities Business Regulations

A Real Estate Investment Fund means a collective real estate investment scheme which aims to provide the chance for investors to participate together in the scheme’s profits, managed by the Fund Manager for a specified fee.

(a) The applicant, seeking the Authority approval to offer units for a Real Estate Investment Fund should be authorised by the Authority to conduct managing business. (b) Units of Real Estate Investment Fund shall not be offered by way of a public offer unless the Authority has first received and approved the information referred to in Article (3). (c) The application for offering units of Real Estate Investment Fund shall include the information set forth in Article (3) of Real Estate Investment Fund Regulations. (d) To provide any other requirement the Authority requests with accordance to the Capital Market Law and its Implementing Regulations.

A contractual relationship is developed between the Fund Manager and Unitholders as soon as the authorised Fund’s Terms and Conditions are signed according to Real Estate Investment Fund Regulations.

They are closed-ended Real Estate Investment Funds., which operate according to the objectives set forth in Article (6) of the Real Estate Investment Funds Regulations. Funds may be established for other purposes as per terms and conditions set by the Authority.

Real estate investment funds operate according to the following objectives: a) Initial Development then Selling: This is in the form of owning a piece of raw land, developing it, dividing it into residential or commercial plots, then selling it and terminating the Fund. b) Constructional Development then Selling: This is in the form of owning a piece of raw or developed land with the purpose of constructing residential or commercial units, then selling it and terminating the Fund. c) Initial or Constructional Development with the intention of leasing it for a certain period of time then selling it and terminating the Fund. Funds may be established for other purposes as per terms and conditions set by the Authority.