Aljazira Mawten REIT to debut on Tadawul tomorrow

14/02/2017 Argaam

Aljazira Mawten REIT will start trading on the Saudi Stock Exchange (Tadawul) on Wednesday, Feb. 15, under the symbol 4331 in the real estate investment traded funds sector.

 

The daily price fluctuation limit will be at 10 percent per unit, Tadawul said in a statement on Tuesday.

 

The Securities Depository Center (SDC) on Tuesday deposited the fund’s new units in the shareholders portfolios on a pro-rata basis.

 

The fund, managed by Aljazira Capital, has a total capital of SAR 118 million, Argaam earlier reported. It invests in income-generating property developments.

 

Aljazira Mawten expects revenue of nearly SAR 9.92 million this year from the warehouse project being leased to six highly solvent companies operating in various sectors.

 

In November, the Riyad REIT fund became the first REIT to debut in the Saudi market.

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