Al Mashaar REIT units added to investor accounts

14/01/2018 Argaam

Al Mashaar REIT units have been added to investor accounts, the Securities Depository Center Co. (Edaa) said in a statement to the Saudi Stock Exchange (Tadawul) on Sunday.

 

The REIT is a sharia-compliant fund with a target size of SAR 572.4 million. A total of 57.24 million units was offered at SAR 10 per unit in the fund’s initial public offering (IPO).

 

The fund, which plans to pay semi-annual dividend at 90 percent minimum, can invest up to 25 percent of total assets in real estate development projects.

 

It initially aims to acquire three flagship hotel towers in Makkah.

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