Jadwa REIT Saudi's IPO to close Jan. 23

Jadwa REIT Saudi Fund’s (Jadwa REIT Saudi) initial public offering (IPO) will close tomorrow, Jan. 23.

The initial public offering started on Jan. 3, where 47.4 million units were on offer at a subscription price of SAR 10 per unit.

The REIT seeks to generate SAR 129.96 million in leasing income in 2018, from which to distribute up to 90 percent. This sum will make up a total return of 8.39 percent on initial assets, and a net return of 7.3 percent for the first year of trading.

Jadwa REIT said its asset base comprises five real estate assets located in Riyadh, Dammam and Al-Khobar, worth SAR 1.55 billion. Assets include offices, residential units, warehouses, hotels and retail space.