The Shariah-compliant real estate investment trust (REIT) was launched in 2017, with a capital of SAR 1.58 billion. The fund is managed by Jadwa Investment.
The fund seeks to generate regular income by investing in diversified real estate assets, located around Saudi, except for Mecca and Medina. It was listed on the Saudi Stock Exchange (Tadawul) in February 2018, with investments portfolio comprises 5 properties in Eastern region and Riyadh.
The Fund invests primarily in income-generating, developed real estate assets wherein it invests no less than 75 percent of its assets. It acquires assets in all Saudi cities, expect Mecca and Medina.
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.
The Fund will distribute no less than 90% of its net income to unit-holders.
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. It acquires assets in all Saudi cities, expect Mecca and Medina.
|Fund Manager||Jadwa Investment Co.|
|Custodian||Al-bilad Investment Co.|
|Auditor||Alluhaid Chartered Accountants|
|Real Estate Valuators||Barcode Co. Ltd., Valustart Company, White Cubes Company, Manasat Real Estate Appraisal Co.|
Facts & Stats
|Fund Size||1,580.00 Million|
|No. of Units||186.51 Million|
|Unit Price||8.47 Riyal|
|Management Fee||0.75 %|
|Custodian Fee||0.03 %|
|Transaction expenses||0.50 %|
|Other expenses||0.10 %|
|Stock Market :||TASI|
|Fiscal Year End :||December|
|3M Average Volume :||122,464|
|3M Average Transactions :||287|
|Change(12M) % :||(21.61)|
|Name||Number of Shares (M)||Holding|
|Abdul Qader Al Muhaidib & Sons Co||31.86||17.08 %|
|Jadwa Investment Company||10.56||5.66 %|
|Market Cap (M)|
|Shares Outstanding (M)|
|Book Value (Riyal)|