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 locations in Mecca and Medina with aim to garner attractive returns and maximize stakeholders' value.
The fund will not place investments outside of 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|
|Auditor||Alluhaid Chartered Accountants|
|Real Estate Valuators||Colliers International , 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 :||127,958.66|
|3M Average Transactions :||105.12|
|Foreign Ownership :||-|
|Name||Number of Shares (M)||Holding|
|Abdullah Mohammed Abdullah Al Ghamas||10.00||15.15 %|
|Yassar Othman Ibrahim Al Hokail||6.24||9.46 %|
|Market Cap (M)|
|Shares Outstanding (M)|
|Book Value (Riyal)|