HiLITE Group Enters Investment Management Sector with ₹200 Crore Shariah-Certified Category II AIF

KOZHIKODE: Marking a major strategic expansion in its three-decade legacy in real estate development, Kozhikode-headquartered HiLITE Group has announced its entry into the investment management sector with the launch of its new vertical, HiLITE Investment Management. The vertical’s maiden offering, HiLITE Ethical Fund 1, is a SEBI-registered Category II Alternative Investment Fund (AIF) targeting a maximum size of ₹200 crore. Notably certified as Shariah-compliant by TASIS (Taqwaa Advisory and Shariah Investment Solutions Pvt. Ltd.), the real estate-focused fund provides high-net-worth individuals and institutional investors with ethically structured, professionally managed real estate opportunities.

The fund features a seven-year tenure with a minimum investment threshold of ₹1 crore, payable in installments over 36 months, focusing primarily on greenfield and brownfield real estate developments. Backed by a strong institutional partner network—including PwC as fund auditor, Mitcon Credentia as trustee, SBI as banker, Nuvama as custodian, and Ajmal & Company as regulatory advisor—the fund expects distributions to commence from the fourth year onwards. Commenting on the launch, HiLITE Group Chairman P. Sulaiman and CEO Ajil Muhammed emphasized that the venture aligns with the group’s broader vision of disciplined, value-driven growth, leveraging their experience behind landmark projects like Focus Mall, HiLITE City, and World Trade Center Kozhikode as they target developing 50 million sq. ft. across Keralam by 2030.