Saudi Al-Nefaie, Alsubeaei ink deal to set up REIT

31/05/2017 Argaam

Saudi-based Al-Nefaie Investment Group (NIG) signed an agreement with Mohammed Alsubeaei & Sons Investments Co. (MASIC) to set up a new real estate investment traded fund (REIT) in Jeddah.

 

The fund will be established when the related valuation, due diligence and paperwork are completed, NIG added in a statement on Wednesday.

 

NIG aims to fulfill client demand for opportunities in investment in income-generating assets, board chairman, Sheikh Mohammed Al-Nefaie said.

 

Alsubeaei is a real estate developer and owns high-yield real estate assets. 

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