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. MAS International and Munshaat Real Estate Projects Co. has dedicated them self to structure an instrument that complies with and is inspired by the principles of Islamic Shariah.
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, MAS and 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, MAS and Munshaat are proudly contributing to the advancement towards developing a Shariah 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 MAS through "Sokouk Al-Intifa'a"
MAS International 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 Shariah 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"
- Use the unit for a personal accommodation.
- Sell Sokouk at any time, i.e., assignment of usage rights to the buyer.
- Sub-lease whole or part of the accommodation to others.
- Grant accommodation to others (family, friends, etc.).
- "Sokouk Al-Intifa'a" can be inherited.