Munshaat Real Estate Projects Co. (K.S.C.P)

Munshaat Innovation

Sokouk Al-Intifa'a

The Islamic economy is marked with its ability to flexibly adapt to the developments and living changes of communities across the ages.

The Islamic economy is characterized with the comprehensiveness and flexibility in dealing with these changes through finding new ways and techniques to structure and handle financial instruments among community member so as to realize the status of developed communities and provide its members with all necessary elements which are needed to make the economic life pleasant. Munshaat Real Estate Projects Co. has dedicated itself to structure an instrument that complies with and is inspired by the principles of Islamic Sharia'a.

The largest possible portion of people can enjoy the distinguished services and new investment opportunities made available by virtue of such instrument. In this respect, Munshaat has developed "Sokouk Al-Intifa'a", the Right-of-Benefits Deeds, and presented it to the public as a unique alternative product to conventional accommodation. In this course, Munshaat is proudly contributing to the advancement towards developing a Sharia'a backed financial instrument.

What is "Sokouk Al-Intifa'a"?

Sokouk is a certificate or a deed to prove a legal right in its general sense.

Sokouk Al-Intifa'a" is a certificate or Deed that entitles its holder the right to utilize a specific real estate property for a specific duration of time per year over a determined number of years. This right is wholly owned by the Sokouk holder who is entitled to sell, grant, inherit or invest the Sokouk.

Services Rendered by Munshaat through "Sokouk Al-Intifa'a"

Munshaat Real Estate Projects Co. applies the concept of "Sokouk Al-Intifa'a" to make available to its clients distinctive real estate services. Such services provide value added accommodation throughout the world to a wide range of people through "Sokouk Al-Intifa'a".

Features of "Sokouk Al-Intifa'a"

• It is a legal deed of a lease hold/ownership right of accommodation, designed to be a long term lease hold instrument for end users without the need to full legal ownership for a Real-Estate.
• It is a tailor designed product to the need and demand of different kinds of end users in different markets.
• It is a retail consumer product for end users as well as an investment instrument for intermediaries and investors.
• It is a strategic instrument with a good potential downstream business.
• It is designed to perform in accordance with the Islamic Shara'a principles.
• It offers a suitable alternative to conventional ownership to users of properties mostly of business and touristic nature.

Advantages of "Sokouk Al-Intifa'a"

a. Guaranteed Accommodation
"Sokouk Al-Intifa'a" offers for each Real Estate project quality infrastructure which Munshaat has developed to insure guaranteed accommodations for Sokouk holders in the agreed and assigned periods over the project's life.

b. Effective Utilization
While Real Estate properties are utilized through "Sokouk Al-Intifa'a" program according to Sokouk Holder's need during a specific duration, a large number of people get the change through "Sokouk Al-Intifa'a" to have a guaranteed accommodation.

c. Flexibility in Use
"Sokouk Al-Intifa'a" provides its holder with flexibility of use with the possibility to change the visiting times via joining the exchange policies and use of point system.

d. Re-Sales Option
Unlike conventional lease contracts not designed to be re-sold or transferred. Sokouk holder can resell his/her Sokouk easily at any time in view of that Sokouk prices are economical compared to other conventionally-owned accommodation.

e. Genuine Saving
Sokouk can be purchased at economical prices with genuine savings as the Sokouk holder utilize and pays for only the period of utilization during the year without being charged for the days and months where the real estate property is not utilized.

f. Fixed Cost
The original price of Sokouk is not negatively affected by the various market indicators such as inflation rates as it happens with other types of accommodation. This stability forms an added value and assurance for the Sokouk holder. It also provides a good potential for increase in the value of "Sokouk Al-Intifa'a".

g. Sub-lease option
Like any property owner, Sokouk holder also has different alternatives to use, such as the opportunity to sub-lease the whole pr part of the accommodation rights to others at agreed terms. Moreover, Sokouk sub-lease is featured with high flexibility as such units are daily serviced and fully equipped with high standard accommodation facilities.

Rights of Sokouk Holder

The Sokouk holder owns the right of accommodation throughout the period covered by Sokouk. Such an ownership provides the Sokouk holder with the right to:

a. Use the unit for a personal accommodation.
b. Sell Sokouk at any time, i.e., assignment of usage rights to the buyer.
c. Sub-lease whole or part of the accommodation to others.
d. Grant accommodation to others (family, friends, etc.).
e. "Sokouk Al-Intifa'a" can be inherited.

For the E-Broucher of Sokouk Al-Intifa'a, please here to download it.