The fund invests no less than 75 percent of its assets into developed, income-generating real estate projects.
It may invest up to 25 percent of its assets in real estate development projects. It shall not place investments in vacant (while) land. It may also invest up to 25 percent of its assets in real estate assets located out of Saudi Arabia.
The fund seeks to achieve 7.5 percent return in 2018, with expectation to reach 7.9 percent in 2021. The fund intends to provide a minimum return of 5 percent annually. Mefic Capital, the fund manager, would raise the return in case it fall below 5 percent to a maximum extent of 2 percent for eight years.
The fund distributes no less than 90 percent of its annual net income in two semiannual tranches.
The fund targets real estate assets located in Riyadh, Jeddah and Mecca; and in Dubai. It seeks to acquire income-generating commercial, administrative, logistic and residential assets, besides hotels.
|Fund Manager||Middle East Financial Investment Company|
|Auditor||BDO Dr. Mohamed Al-Amri & Co.|
|Real Estate Valuators||Valustart Company, Cavendish Maxwell for Valuation Services Co., Taqdeer for Real Estate Valuation Co., Amaken Holding Co.|
|Fund Size||1,230.00 Million|
|No. of Units||73.28 Million|
|Unit Price||16.79 Riyal|
|Management Fee||0.35 %|
|Custodian Fee||0.03 %|
|Transaction expenses||0.50 %|
|Other expenses||0.50 %|
|Stock Market :||TASI|
|Fiscal Year End :||December|
|3M Average Volume :||435,703.51|
|3M Average Transactions :||415.10|
|Foreign Ownership :||-|
|Name||Number of Shares (M)||Holding|
|Motaeb Abdul Aziz Al Saud||15.00||20.47 %|
|Ibrahim Abdullah Rashid Al Hedithy||5.99||8.18 %|
|Awj Investments L.L.C.||5.00||6.82 %|
|Awj for Development and Real Estate Investment Co.||5.00||6.82 %|
|Bandar Abdul Rahman Naser Al Mouhana||4.59||6.27 %|
|Fahad Ibrahim Saad Al Moussa||4.18||5.70 %|
|Market Cap (M)|
|Shares Outstanding (M)|
|Book Value (Riyal)|