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Overview
The Shariah-compliant real estate investment trust (REIT) was launched in 2017, with a capital of SAR 1.22 billion. The fund is managed by Al Rajhi Capital Company.
The fund seeks to generate regular income by investing in diversified real estate assets, located around Saudi Arabia, except for Mecca and Medina. It was listed on the Saudi Stock Exchange (Tadawul) in March 2018, with investments portfolio comprises 13 properties.
Investment Policy
The Fund invests primarily in income-generating, developed real estate assets wherein it invests no less than 75 percent of its assets.
It may invest up to 25 percent of its assets into real estate development projects, and up to 25 percent into properties located outside Saudi Arabia. It shall not invest in vacant (white) lands.
Dividend Policy
The Fund will distribute no less than 90% of its net income to unit-holders semiannually.
Property Acquisition Policy
The Fund focuses on income-generating, developed real estate assets, wherein it shall invest no less than 75 percent of its assets under management.
Basic Information
| Fund Manager | Al Rajhi Capital Company |
| Custodian | KASB Capital Co. |
| Auditor | Ibrahim Ahmed AlBassam & partner CPA's and Consultants |
| Real Estate Valuators | Jones Lang LaSalle, Knight Frank Corporation, Barcode Co. Ltd., Valustart Company, White Cubes Company, Olaat Development Ltd. Group, Medad Al Khair Real Estate Co. |
| Argaam Classification | |
| Market Sector | REITS |
Facts & Stats
| Fund Size | 2,756.07 Million |
| Capital | 2,756.07 Million |
| No. of Units | 275.61 Million |
| Unit Price | 10.00 Riyal |
| Currency | Riyal |
| Valuation Period | Semi-annual |
| Management Fee | 0.80 % |
| Custodian Fee | - |
| Transaction expenses | - |
| Other expenses | 0.25 % |
Trading Data
| Stock Market : | TASI |
| Fiscal Year End : | December |
| 3M Average Volume : | 688,162 |
| 3M Average Transactions : | 1,651 |
| Change(12M) % : | (20.79) |
Major Shareholders
| Name | Number of Shares (M) | Holding |
|---|---|---|
| Al Rajhi Capital Co. | 26.71 | 9.69 % |
| Al Khaleej Training and Education Company | 16.18 | 5.87 % |