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The International Real Estate Finance Summit '09
Leveraging new Opportunities in Islamic Finance

In some respects the global economic slowdown and the crisis in the financial markets, and its impact on real estate assets and financing, has been a blessing in disguise.

For the real estate market, especially in the Middle East & North Africa (MENA) Region, where people have been predicting corrections ad nauseum over the last decade, it has been a forced pause for reflection, the jettisoning of excesses, the tightening of regulation and perhaps above all preparing for the next wave of market opportunities as and when long-term sustainable economic recovery and growth returns.

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  • IREF ME 2008 Awards

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    Representatives of Alargan Real Estate of Oman receiving the award for the Best Real Estate developer in Oman

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    Ali Al-Ghannam, Head of International Real Estate, KFH, receiving the award for the Best Islamic Financial Institution in Kuwait

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    Mohammed Asaria, Managing Director Rasameel Structured Finance KSC receiving the award of for the Best Islamic Finance Company in Kuwait

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    Youssef Ahmed Al Hammadi, CEO of Barwa Al Khor receiving the award for the Best Real Estate Development Project in Qatar

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    Representative of National Commercial Bank of Saudi Arabia receiving the award for the Best Financial Institution in Saudi Arabia

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    Dr. Abdulgader Amir, Vice Mayor for Planning & Urban Development, Municipality of Jeddah, Saudi Arabia Government receiving the award on behalf of Saudi Electricity Company for the Best Islamic Financial Transaction in Saudi Arabia

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    Representative of Ra-Yek Real Estate receiving the award for the Best Commercial Developer in Saudi Arabia

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    Dr. Abdulgader Amir, Vice Mayor for Planning & Urban Development, Municipality of Jeddah, Saudi Arabia Government receiving the award on behalf o Dar Al-Arkan Real Estate Development Company (Saudi Arabia) for the Best Residential Developer in Saudi Arabia

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    Representative of the National Bank of Abu Dhabi receiving the award for the Best Financial Institution in the UAE

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    R. Lakshmanan, CEO, Sakana Holistic Housing Solutions BSC of Bahrain receiving the award for the Best Islamic Mortgage Provider in the Middle East

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    Neil Miller, Partner, Norton Rose receiving the award for the Best Law Firm in the Middle East

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    Stella Cox, Managing Director, DDCAP receiving the award for Outstanding Contribution to Islamic Finance in the UK

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View Galleries: IREF '08 - IREF ME 2008 Awards - IREF Jordan 2006 - IREF ME 2006 Awards

Islamic finance poised for massive growth as London becomes key hub outside the Middle East. London is emerging as the key centre for Islamic finance outside of the Middle East as financial institutions clamber to become part of a growing market. Currently it is estimated that Islamic banking manages funds of $200 billion. It is predicted to increase by up to 15% a year and be worth a trillion dollars by 2010. Islamic finance has been boosted by a number of factors. Firstly, there are more Muslims in the world seeking mortgages, investments, bonds and specialist finance products. Secondly, economic growth in the Middle East, fuelled by high oil prices, has created an increased demand which local financial markets have been unable to keep up with. As a result Middle Eastern investors are looking for suitable alternatives.

Property Wire

"Currently, there is no downward pressure on any sovereign ratings in the Gulf... These economies are still performing strongly, with wide twin surpluses and large cushions of foreign financial assets. Out of any in the world, these countries have to be considered among the best placed to deal with the global financial turmoil, at least from a macro perspective."

Tristan Cooper, Senior Analyst, Moody's
Property Wire

The IREF conference series now in it's seventh year prides itself on bringing to you the most current real estate issues affecting both conventional and islamic finance circles. Leading institutions and influential market players have over the years addressed important issues, identified exciting opportunities and forged new business relationships at IREF.

Against the backdrop of the current global economic turmoil, IREF 2009 has assumed even greater importance as it is set to explore new avenues, and highlight the potential opportunities that exist between the GCC and key Western markets such as the UK. Clearly GCC investors armed with huge reservoirs of petrodollar liquidity can benefit not just from the abundance of opportunities currently available but also from expertise, knowledge transfer, and mutual cooperation between East and West.

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GCC investors flock to UK realty sector
"Periods of negative returns are very rare in the UK and usually decades apart. Because of the enduring popularity of UK commercial property, international buyers have used these brief periods of weakness to snap up bargains as values have recovered into positive territory. Investors will have to choose carefully to reap the rewards that are undoubtedly available but there is no doubt that there good deals to be done." If you miss this opportunity, you may be waiting 15 or 20 years for the next chance to buy UK property so cheaply."

Gulf Finance House, Real Estate Asset Management Report
30, May 2008 Bahrain Tribune

Credit crisis gives Islamic finance a chance to shine
The global credit crisis presents the $1 trillion Islamic finance industry with an opportunity to expand its appeal beyond Muslim investors, as a haven from speculative excess.
The message may have particular resonance in the West after the crumbling of the U.S. mortgage market left banks holding hundreds of billions of dollars of nearly worthless credit instruments tied to home loans by a web of complex structures. The jump in popularity of Islamic finance is drawing the interest of companies outside the Middle East.

August 19, 2008, Reuters