Is Madison Pacific Properties (MPC) stock Halal?

Madison Pacific Properties is a prominent player in the real estate investment sector, focusing primarily on the acquisition, management, and development of commercial and industrial properties. With a portfolio strategically distributed across high-demand areas, Madison Pacific aims to provide sustainable value through well-managed assets that cater to a diverse range of businesses and industries. For Muslim investors, though, the most pressing question is simpler: is Madison Pacific Properties a Halal investment?

Is Madison Pacific Properties Shariah compliant?

No. In the October 2026 screening Madison Pacific Properties (MPC) does not pass AAOIFI screening: it fails the interest-bearing debt screen. Property itself is a permissible asset, which is why real estate attracts Halal investors. The screening question for Madison Pacific Properties is how the portfolio is financed and whether rental income flows from impermissible tenants; the debt cap and the 5% income ceiling of AAOIFI Shariah Standard No. 21 carry the verdict.

Does Madison Pacific Properties pass the business activity test?

The activity screen is only part of the picture this month: Madison Pacific Properties currently fails the interest-bearing debt screen, so the overall verdict is not compliant regardless of the business itself. The watch item is the tenant roll: rental income from impermissible businesses counts against the 5% ceiling.

Is Madison Pacific Properties' income Halal?

Yes, within AAOIFI's tolerance. Madison Pacific Properties' income from non-permissible sources stays below 5% of revenue in the October 2026 screening.

Does Madison Pacific Properties meet AAOIFI's debt and investment ratio requirements?

Not in full. Interest bearing debt currently exceeds the 30% cap, measured against a market capitalisation of CA$269M (market data as of 1 October 2026), while the other ratio stays within it. One breach is enough to fail the screening; the ratios are reassessed monthly under our Shariah Supervisory Board.

Why do other halal screeners show a different verdict for Madison Pacific Properties?

Screeners can disagree without either being wrong. AAOIFI Shariah Standard No. 21, which Tabadulat applies, measures interest bearing debt and investments against market capitalisation with a 30% ceiling. MSCI and FTSE measure them against total assets with a 33% ceiling, and S&P and Dow Jones Islamic use a multi year average of market capitalisation. Data dates differ too, because each provider reads filings and prices on its own schedule. The same company can therefore pass one standard and fail another in the same month. Tabadulat publishes one answer, the AAOIFI result as of October 2026, and re-screens it every month.

Tabadulat is an ADGM regulated brokerage whose license covers Shari'a Compliant Regulated Activities, as the FSRA permission names them. New to the terminology? Gharar and Maysir, Sukuk, Zakat and purification are all explained in plain English.

New to the screening method? Read REITs: Halal Real Estate for Muslim Investors