The manager
Ahmed Group has been building this for longer than the fund has existed.
Ahmed Asset Management Inc. manages the Trust. Behind it is a family business that has been developing faith-aligned residential communities in southern Ontario for years — and the proof of that is a street sign, not a slide.
Who runs it
A fund is managed by people, not by a logo. Everything in this section is taken from Item 3 of the Offering Memorandum filed on 30 April 2026 — the document counsel drafted and the issuer certified — rather than written for this page.
Director and Chief Executive Officer · since 1 January 2025
Mohammed Ahmed
Fourteen years in Canadian real estate, specialising in purpose-built rental apartment buildings.
President and Chief Executive Officer of the Ahmed Group · Mississauga, Ontario
As President and Chief Executive Officer of the Ahmed Group, Mohammed Ahmed brings over fourteen years of experience in the Canadian real estate sector, specialising in the development of purpose-built rental apartment buildings. Under his leadership the Ahmed Group expanded its portfolio and diversified its offerings, with a focus on sustainable, livable and attainable community developments.
His experience spans the whole lifecycle of a real estate project — land acquisition and entitlement, design, construction management and delivery. He oversees a development pipeline of approximately $2 billion in Ontario and manages assets worth over $100 million. His approach integrates private equity, asset management, and vertically integrated property management and development management.
With a background in city building and investment, combined with his own entrepreneurial ventures, he is known for leading large multidisciplinary teams towards a single vision. His work extends beyond the corporate: he is behind the philanthropy of the Ahmed Foundation and initiatives such as Down with Hatred, which promotes interfaith dialogue.
The rest of the team
Forty-five years a community builder, and a former Deputy Mayor of Oakville.
Fifty years in community building and construction.
Twenty years in community building and business development. The person who answers when you telephone.
Schulich School of Business.
And the people who actually take your subscription
Tawakkul does not accept subscriptions. These are the registered dealing representatives at Drake Financial Ltd. who do — and you can look either of them up yourself on the Canadian Securities Administrators' National Registration Search before you speak to them.
Drake Financial Ltd.
Drake Financial Ltd.
Ahmed Place
A municipality does not name a street after a developer for building houses. It does it when a family has become part of the place. Ahmed Place exists because a community was built, people moved in, and it worked — and it is the reason four community organisations were willing to bring their own congregations into the projects the Trust is developing now.
The Trust is the same idea with a different balance sheet. What the family did with its own capital, in one community at a time, the Trust does with pooled capital across several — and without debt, which is the part that changes everything.
The name
The Trust was established as AG Property Trust — AG for Ahmed Group. It was renamed Tawakkul Real Estate Investment Trust once the Tawakkul Fund had become the name investors and community partners actually used for it. The fund gave its name to the trust rather than the other way round, which is unusual and says something: the recognition came from the community first.
The Shariah ruling of 6 November 2025 was issued under the former name and remains the ruling on this structure. It is published in full, name and all.
Track record
Over that eight-year period the manager's corporate real estate portfolio produced annual returns in excess of 25%. The figures were compiled by an independent CPA firm covering 2017 to 2024.
What a compilation is, precisely. The CPA assembled financial information provided by management into a report — a Notice to Reader engagement. It is not an audit and not a review, and it expresses no assurance on the figures. We state that because the distinction is real and because you are entitled to know which one you are looking at.
Three things this does not tell you, which matter as much as the number.
It is not the Trust's performance. This is Ahmed Group's own portfolio, held and managed separately. The Trust is a different vehicle with different assets, and it has its own audited financial statements — ask your dealing representative for them.
The period was extraordinary. Southern Ontario real estate between 2017 and 2024 was not a normal eight years, and a return earned in that window says more about the window than most people admit.
The structures are not the same. Private real estate is conventionally developed with borrowed money, and leverage magnifies a return in both directions. The Trust uses none. That is a deliberate constraint the community asked for, and it means the Trust is not attempting to reproduce the numbers above by the means that ordinarily produce them.
None of which makes the record irrelevant. It tells you the people managing this have developed, financed, leased and sold real property in this market through a full cycle, which is a great deal more than most people asking for your money can say.
Will the Trust return 25% a year?
Can I see the CPA report?
Who audits the Trust itself?
Is Ahmed Place part of the Trust?
Invest alongside people who have built this before.
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