First National's Real Estate and Hospitality Fund has declared its first dividend since launch, distributing MVR 226,441 for the first quarter of 2025.
First National's Real Estate and Hospitality Fund has declared its first dividend since launch, distributing MVR 226,441 for the first quarter of 2025.
As the first CMDA-approved and officially registered real estate fund in the Maldives, the fund is managed by First National Finance Corporation and aims to offer public investment opportunities in real estate while generating returns for shareholders.
The company has set a dividend payout of MVR 22.87 per share for shareholders.
In addition, bondholders will receive MVR 318,856 in interest payments. The next round of profit distribution to both shareholders and bondholders is scheduled for July, covering the second quarter of the year.
A total of 9,900 shares were sold at MVR 1,000 each, and 8,100 bonds were issued at the same rate when the fund opened in December 2024, raising MVR 18 million.
The fund is overseen by a team of experienced directors: Dr Ibrahim Mahfooz, Ahmed Hassan Didi, and Ahmed Nasir.
First National stated that the goal of launching such a fund is to open real estate investment to the public and offer a structured avenue for individuals to generate income through the sector.
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