Muscat Capital’s Al Masha'ar REIT Fund will start off trading on Saudi Stock Exchange (Tadawul) on January 18, under the code 4337.
The daily price fluctuation limit stands at 10 percent per unit, Tadawul said in a statement.
The SAR 572.4-million Shariah-compliant fund plans to pay annual dividend amounting to 90 percent of its net income. Distribution will be twice a year.
The fund said in the listing memo that it will invest majority of its assets in developed real estate projects, and may commit up to 25 percent of assets to property development.
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