Musharaka Capital’s real estate investment traded fund, Musharaka REIT, has started trading on the Saudi Stock Exchange (Tadawul) today with a daily price fluctuation limit per share of 10 percent, under code 4335.
The REIT raised SAR 3.8 billion in an initial public offering (IPO) on Tadawul in August.
Its fund manager is in the process of acquiring properties, mostly in the Eastern and Central regions, that can generate periodic rental income through medium- and long-term leasing contracts.
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Properties to be acquired by the fund |
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Name |
Region |
Purchase value (SAR mln) |
Total return on property (SAR mln) |
Land area m² |
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Ajzala Compound 1 |
Al Khobar |
160 |
14.4 |
29,486 |
|
Al Baraka warehouses |
Riyadh |
90 |
9.0 |
29,955 |
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Radisson Blu hotel apartments |
Al Khobar |
85 |
7.2 |
3,798 |
|
Seashore compound |
Al Khobar |
145 |
13.1 |
38,121 |
|
Pearl Compound |
Al Khobar |
377 |
32.0 |
22,500 |
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