Swicorp Co. said Swicorp Wabel REIT will start trading units on the Saudi Stock Exchange (Tadawul) as of tomorrow, August 6, 2018.
In March, Swicorp Co. said it will invest a sum of SAR 35.40 million in Swicorp Wabel REIT, which is equal to 3 percent of the fund’s total units.
The fund gives a targeted net yield of 7.7 percent in 2018, to rise to 8.30 percent in 2020.
With a target size of SAR 1.18 billion, the fund offers 35.4 million units at SAR 10 per unit, totaling SAR 354 million, or 30 percent of the fund size.
The asset base of the sharia-compliant fund includes four fully developed and income-generating shopping malls, namely Al Makan Malls in Riyadh, Tabuk, Hafr Al-Batin, and Dawadmi.
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