The Shariah-compliant real estate investment trust (REIT) was launched in 2017, with a capital of SAR 1.375 billion. The fund is managed by NCB 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 January 2018, with investments portfolio comprises two commercial properties in Jeddah.
The Fund invests primarily in income-generating, developed real estate assets wherein it invests no less than 75 percent of its assets.
The Fund may invest up to 25 percent of its assets into real estate development projects, and up to 25 percent into property located outside Saudi Arabia. It shall not invest in vacant (white) lands.
The Fund will distribute no less than 90% of its net income to unit-holders semiannually.
The Fund focuses on income-generating, developed real estate assets, wherein it shall invest no less than 75 percent of its assets under management
|Fund Manager||NCB Capital Company|
|Custodian||Al-bilad Investment Co.|
|Auditor||KPMG Al Fozan & Partners|
|Real Estate Valuators||Knight Frank Corporation, Valustart Company|
|Fund Size||1,375.00 Million|
|No. of Units||137.50 Million|
|Unit Price||10.00 Riyal|
|Management Fee||1.00 %|
|Custodian Fee||0.03 %|
|Transaction expenses||0.50 %|
|Other expenses||1.00 %|
|Stock Market :||TASI|
|Fiscal Year End :||December|
|3M Average Volume :||100,004.95|
|3M Average Transactions :||165.73|
|Name||Number of Shares (M)||Holding|
|Al Andalus Real Estate Co.||94.49||68.72 %|
|Market Cap (M)|
|Shares Outstanding (M)|
|Book Value (Riyal)|