Mulkia-Gulf REIT offers subscription through multiple entities

In an unprecedented move, subscriptions of Mulkia-Gulf Real Estate Investment Trust (REIT) Fund will be open through Banque Saudi Fransi and Aljazira Capital, in addition to the fund manager, Mulkia Investment Company.

This will allow a larger segment of investors to subscribe to Mulkia-Gulf REIT, the fund told Argaam.

Earlier this month, the Saudi Capital Market Authority’s (CMA) board has approved a request from Mulkia Investment to offer, register and list units of Mulkia-Gulf REIT on the Saudi Stock Exchange (Tadawul).

Mulkia-Gulf REIT, the seventh REIT listed on Tadawul, is a Sharia-compliant fund that targets capital of SAR 600 million. It will be offered from Sept. 11 to Sept. 17.