Latest news with #OEF
Zawya
a day ago
- Business
- Zawya
Oman Endowment Foundation unveils maiden real estate initiative
MUSCAT - In its first major action since being established by Royal Decree last November, the Oman Endowment Foundation (OEF) has invited local and international real estate developers to submit their prequalification credentials for potential partnerships in the development of awqaf properties in the Sultanate of Oman. OEF was created under Royal Decree No. 28/2024 with the objective of maximizing returns on endowment and Bayt Al-Mal assets through sustainable and innovative investments. Announcing its first real estate initiative, the Muscat-based Foundation said: 'In line with its strategic objectives, OEF invites qualified local and international real estate developers, alliances, and specialized investors to submit their prequalification documents for potential partnerships. This initiative includes select investment lands designated for real estate development.' According to the Foundation, future partnerships and investment models will be structured to suit different project needs. One approach is the Usufruct or Long-Term Lease Model, in which the developer is granted the right to use the endowment land for a defined period without any transfer of ownership. The developer assumes full responsibility for financing, developing, and operating the project, as well as bearing all associated commercial and financial risks. In return, OEF secures a fixed or escalating income stream, such as annual rent, while retaining complete ownership of the land both during and after the usufruct period. Another is the Sweat Equity Model, where the developer receives an equity stake in exchange for providing full project funding, technical management, and development expertise, and for assuming all operational and financial risks. In this model, the land remains under the Foundation's ownership or may be contributed as an equity stake if mutually agreed. OEF also offers an Equity Partnership, or Musharakah Model, based on a joint partnership between the Foundation and the investor. Here, OEF contributes the land as an in-kind share valued at fair market price at the start of the venture, while the investor contributes cash capital of equal or complementary value. The project is implemented jointly, with profits and losses shared in proportion to each party's capital contribution. Both partners retain rights in strategic decision-making, and any exit or termination is governed by the partnership agreement. 'OEF's initiative focuses on real estate projects that can be developed efficiently to generate significant returns and societal benefits,' the Foundation explained. 'This initiative is a core component of OEF's long-term vision and its strategy for endowment growth. OEF expects selected partners to conduct comprehensive highest-and-best-use analyses and detailed financial assessments for each land parcel during the subsequent Request for Proposal (RFP) stage.' The deadline for submission of qualifications is August 24, 2025, with the shortlist of qualified firms expected to be announced on September 7, 2025. 2025 © All right reserved for Oman Establishment for Press, Publication and Advertising (OEPPA) Provided by SyndiGate Media Inc. (
Observer
2 days ago
- Business
- Observer
Oman Endowment Foundation unveils maiden real estate initiative
MUSCAT, AUG 10 In its first major action since being established by Royal Decree last November, the Oman Endowment Foundation (OEF) has invited local and international real estate developers to submit their prequalification credentials for potential partnerships in the development of awqaf properties in the Sultanate of Oman. OEF was created under Royal Decree No. 28/2024 with the objective of maximizing returns on endowment and Bayt Al-Mal assets through sustainable and innovative investments. Announcing its first real estate initiative, the Muscat-based Foundation said: 'In line with its strategic objectives, OEF invites qualified local and international real estate developers, alliances, and specialized investors to submit their prequalification documents for potential partnerships. This initiative includes select investment lands designated for real estate development.' According to the Foundation, future partnerships and investment models will be structured to suit different project needs. One approach is the Usufruct or Long-Term Lease Model, in which the developer is granted the right to use the endowment land for a defined period without any transfer of ownership. The developer assumes full responsibility for financing, developing, and operating the project, as well as bearing all associated commercial and financial risks. In return, OEF secures a fixed or escalating income stream, such as annual rent, while retaining complete ownership of the land both during and after the usufruct period. Another is the Sweat Equity Model, where the developer receives an equity stake in exchange for providing full project funding, technical management, and development expertise, and for assuming all operational and financial risks. In this model, the land remains under the Foundation's ownership or may be contributed as an equity stake if mutually agreed. OEF also offers an Equity Partnership, or Musharakah Model, based on a joint partnership between the Foundation and the investor. Here, OEF contributes the land as an in-kind share valued at fair market price at the start of the venture, while the investor contributes cash capital of equal or complementary value. The project is implemented jointly, with profits and losses shared in proportion to each party's capital contribution. Both partners retain rights in strategic decision-making, and any exit or termination is governed by the partnership agreement. 'OEF's initiative focuses on real estate projects that can be developed efficiently to generate significant returns and societal benefits,' the Foundation explained. 'This initiative is a core component of OEF's long-term vision and its strategy for endowment growth. OEF expects selected partners to conduct comprehensive highest-and-best-use analyses and detailed financial assessments for each land parcel during the subsequent Request for Proposal (RFP) stage.' The deadline for submission of qualifications is August 24, 2025, with the shortlist of qualified firms expected to be announced on September 7, 2025.
The Hindu
23-07-2025
- Health
- The Hindu
Dialysis unit at Erode GH completes one lakh haemodialysis sessions
The dialysis unit at the Government Headquarters Hospital in Erode has completed one lakh haemodialysis sessions as of Wednesday. The Olirum Erodu Foundation (OEF), which has been supporting the unit for the past 13 years, has provided 16 dialysis machines and appointed 23 staff members to operate the facility. The unit currently serves 46 patients every day. S. Prabhakar, Commissioner and Project Director of the Tamil Nadu Irrigated Agriculture Modernisation Project, and District Collector S. Kandasamy honoured doctors, medical staff, and philanthropists who contributed to the unit's success. The OEF Chairman, S. Chinnasamy said the foundation focused on key areas including water, education, sports, health, solid waste management, and infrastructure. The OEF has spent around ₹45 crore so far in these sectors. With 92 active members, the foundation had so far invested ₹1 crore in improving the hospital's infrastructure. The dialysis services can be expanded if additional space is made available at the hospital. Mr. Prabhakar said that the Erode GH dialysis unit also functioned as a training centre for staff from other government hospitals across the State, making it a model unit. He also announced that new technologies will soon be introduced to modernise the State's irrigation systems. District Collector S. Kandasamy lauded the foundation's efforts in running both the dialysis unit and the blood donor network at Erode GH. He assured that the government will provide additional space to support the expansion of services.
Time of India
11-06-2025
- Automotive
- Time of India
Firozabad's OEF sends first batch of Su-30 brake parachutes to Malaysian Air Force
Agra: Firozabad's Ordnance Equipment Factory (OEF) on Tuesday dispatched its first batch of brake parachutes for the Malaysian Air Force's Sukhoi-30 aircraft. Deputy general manager of the Hazratpur unit, HL Kumawat said 10 sets were sent to Malaysia following an export order placed through a local channel partner. OEF has been tasked with manufacturing 10 sets for the Royal Malaysian Air Force while continuing production for Indian Su-30MKIs, the backbone of the Indian Air Force . In Feb 2025, the DRDO transferred the brake parachute technology to OEF Hazratpur. Originally developed by DRDO's ADRDE lab in Agra (2000–2002), the system enables OEF to manufacture aerial delivery systems and brake parachutes domestically. The brake parachute is a critical safety system that slows the Su-30 during landing, preventing runway overruns. Deployed at speeds between 180–300 km/h, it uses an auxiliary parachute to extract the main chute, which then inflates to create drag. Made from Nylon 66 and covering 50 sqm, the system also assists in aborted take-offs by reducing the aircraft's landing run.
Yahoo
13-05-2025
- Business
- Yahoo
First Trust Announces Upcoming Trustee Elections for ETFs and Other Open-End Funds
WHEATON, Ill., May 13, 2025--(BUSINESS WIRE)--The Boards of Trustees (collectively, the "Boards") of the open-end management investment companies (collectively, the "OEFs/ETFs") consisting of the exchange-traded funds, mutual funds and variable insurance funds advised by First Trust Advisors L.P. ("FTA") have approved proposals for shareholders of the applicable funds to elect eight nominees ("Nominees") to the Boards later this year. Each Board has approved the nomination of Mr. Thomas J. Driscoll for election as a new Trustee of the applicable OEF/ETF and has also determined that it is an appropriate time to provide shareholders with the opportunity to elect all of the current Trustees (including an opportunity to re-elect those who have previously been elected by shareholders). In addition, the Board of First Trust Exchange-Traded Fund ("FTETF") has approved the nomination of Ms. Bronwyn Wright for election as a new Trustee of FTETF. Ms. Wright currently serves as an advisory board member to FTETF and as a Trustee of the other OEFs/ETFs. As indicated above, the Board of each OEF/ETF has approved, among other things, the nomination of Thomas J. Driscoll for election as a new Trustee. Mr. Driscoll was previously a Partner at Deloitte LLP and Deloitte Tax LLP (collectively, "Deloitte") from September 1998 to January 2024. As a Partner at Deloitte, Mr. Driscoll served in various roles including as lead client service partner, lead relationship partner and lead tax partner for various clients in the asset management, broker-dealer and financial services businesses. Mr. Driscoll also served as the Vice Chairman, Partner in Charge of Deloitte's international tax and transfer pricing (economics) business responsible for leading and managing Deloitte's international tax and transfer pricing practice with over 1,200 professionals in the United States and India. Finally, as a member of the Board of Deloitte Tax LLP, Mr. Driscoll was a part of the executive committee responsible for overseeing Deloitte's tax practice in the United States. Additional Information: First Trust Exchange-Traded Fund (previously defined as "FTETF") Currently, each of the following individuals serves as a Trustee on the Board of FTETF: James A. Bowen, Richard E. Erickson, Thomas R. Kadlec, Denise M. Keefe, Robert F. Keith and Niel B. Nielson (collectively, the "Current FTETF Trustees"). The Board of FTETF has approved the nomination of Ms. Wright, Mr. Driscoll and each of the Current FTETF Trustees for election by shareholders of the applicable funds at a special meeting of shareholders that is expected to be held later this year. Additional Information: First Trust Exchange-Traded Fund II, First Trust Exchange-Traded Fund III, First Trust Exchange-Traded Fund IV, First Trust Exchange-Traded Fund V, First Trust Exchange-Traded Fund VI, First Trust Exchange-Traded Fund VII, First Trust Exchange-Traded Fund VIII, First Trust Exchange-Traded AlphaDEX® Fund, First Trust Exchange-Traded AlphaDEX® Fund II, First Trust Series Fund and First Trust Variable Insurance Trust (collectively, the "Other OEFs/ETFs") Currently, each of the following individuals serves as a Trustee on the Board of each of the Other OEFs/ETFs: James A. Bowen, Richard E. Erickson, Thomas R. Kadlec, Denise M. Keefe, Robert F. Keith, Niel B. Nielson and Bronwyn Wright (collectively, the "Current Other OEFs/ETFs Trustees"). The Board of each Other OEF/ETF has approved the nomination of Mr. Driscoll and each of the Current Other OEFs/ETFs Trustees for election by shareholders of the applicable funds at a special meeting of shareholders that is expected to be held later this year. FTA is a federally registered investment advisor and serves as the investment advisor to the series of the OEFs/ETFs. FTA and its affiliate, First Trust Portfolios L.P. ("FTP"), a FINRA registered broker-dealer, are privately-held companies that provide a variety of investment services. FTA has collective assets under management or supervision of approximately $258 billion as of March 31, 2025 through unit investment trusts, exchange-traded funds, closed-end funds, mutual funds, variable insurance funds and separately managed accounts. FTA is the supervisor of the First Trust unit investment trusts, while FTP is the sponsor. FTP is also a distributor of mutual fund shares and exchange-traded fund creation units. FTA and FTP are based in Wheaton, Illinois. This press release contains certain forward-looking statements within the meaning of the Securities Act of 1933, as amended, and the Securities Exchange Act of 1934, as amended. Forward-looking statements include statements regarding the goals, beliefs, plans or current expectations of the OEFs/ETFs, FTA and their respective representatives, taking into account the information currently available to them. Forward-looking statements include all statements that do not relate solely to current or historical fact. For example, forward-looking statements include the use of words such as "anticipate," "estimate," "intend," "expect," "believe," "plan," "may," "should," "would," "will" or other words that convey uncertainty of future events or outcomes. When evaluating the information included in this press release, you are cautioned not to place undue reliance on these forward-looking statements, which reflect the judgment of the OEFs/ETFs, FTA and their respective representatives only as of the date hereof. No obligation will be undertaken to publicly revise or update these forward-looking statements to reflect events and circumstances that arise after the date hereof. In connection with the solicitation of proxies to approve the election of Trustees, the OEFs/ETFs will file proxy statements. Because the proxy statements will contain important information, shareholders of the series of each OEF/ETF are urged to read the applicable proxy statement and accompanying materials carefully when they receive them. The shareholders of the series of each OEF/ETF will also be able to obtain copies of these documents, when available, by calling FTA toll-free at 800-621-1675. When filed with the Securities and Exchange Commission (the "SEC"), each proxy statement will be available free of charge at the SEC's website, This press release does not constitute an offer to sell, nor a solicitation of an offer to buy, shares of any series of any OEF/ETF, nor is it a solicitation of any proxy. The OEFs/ETFs, FTA and, as applicable, certain of their respective directors/trustees, Nominees, officers and affiliates may be deemed under the rules of the SEC to be participants in the solicitation of proxies from shareholders in connection with the matter described above. Information about the Trustees and officers of the OEFs/ETFs may be found in the Statements of Additional Information of the series of the OEFs/ETFs that have been previously filed with the SEC. View source version on Contacts First Trust Advisors James Dykas, 630-517-7665
