The Shariah-compliant real estate investment trust (REIT) was launched in 2017, with a capital of SAR 660 million. The fund is managed by Jadwa Investment.
The fund seeks to generate regular income by investing in diversified real estate assets, located around Saudi Arabia, specifically in Mecca and Medina. It was listed on the Saudi Stock Exchange (Tadawul) in April 2017, with an investment portfolio of five properties spanning the commercial and hospitality segments.
The fund seeks to invest in real estate assets located in Makkah and Madinah. It can invest up to 40% of its assets in the rest of the Saudi Arabia.
It may invest up to 25% of its assets outside Saudi Arabia.
The fund can invest up to 25 percent of its assets in murabaha deals with local banks, and Shariah-compliant real estate stocks or REITs listed in Saudi Arabia.
The fund plans to disburse semiannual dividends of no less than 90 percent of its net investment income.
|Fund Manager||Jadwa Investment Co.|
|Custodian||Al-bilad Investment Co.|
|Auditor||Alluhaid Chartered Accountants|
|Real Estate Valuators||Valustart Company, White Cubes Company|
|Fund Size||660.00 Million|
|No. of Units||66.00 Million|
|Unit Price||10.00 Riyal|
|Management Fee||1.00 %|
|Custodian Fee||0.03 %|
|Transaction expenses||2.00 %|
|Other expenses||0.50 %|
|Stock Market :||TASI|
|Fiscal Year End :||December|
|3M Average Volume :||1,520,873.59|
|3M Average Transactions :||1,067.16|
|Name||Number of Shares (M)||Holding|
|Yassar Othman Ibrahim Al Hokail||6.24||9.46 %|
|Market Cap (M)|
|Shares Outstanding (M)|
|Book Value (Riyal)|