The Shariah-compliant real estate investment trust (REIT) was launched in 2017, with a capital of SAR 880 million. The fund is managed by Musharaka Capital.
The fund seeks to generate current income by investing in diversified real estate assets in Eastern and Central regions. It was listed on Saudi Stock Exchange (Tadawul) in August 2017, with investment portfolio comprising nine properties in the commercial, residential and hospitality segments.
The Fund invests 75 percent of its assets in developed properties that generate regular rental income in Saudi Arabia, expect for Mecca and Medina. It may invest in real estate development projects. It may also invest up to 25 percent of its assets into properties located outside Saudi Arabia. It does not invest in undeveloped (White) land plots.
The Fund will distribute a minimum of 90% of its net income to unit-holders annually.
The Fund invests in real estate projects that generate regular rental income. It allocates a minimum of 75 percent of its assets to developed properties.
|Fund Manager||Musharaka Capital|
|Custodian||Alinma Investment Company|
|Auditor||Baker Tilly Co.|
|Real Estate Valuators||Valustart Company, Olaat Development Ltd. Group, REMAX Real Estate Co.|
|Fund Size||880.00 Million|
|No. of Units||88.00 Million|
|Unit Price||10.00 Riyal|
|Management Fee||1.20 %|
|Transaction expenses||1.00 %|
|Other expenses||0.25 %|
|Stock Market :||TASI|
|Fiscal Year End :||December|
|3M Average Volume :||733,798.30|
|3M Average Transactions :||564.64|
|Name||Number of Shares (M)||Holding|
|Agzalla For Trading and Real Estate Investment Co.||21.35||24.26 %|
|Musharaka Capital Co.||4.65||5.28 %|
|Market Cap (M)|
|Shares Outstanding (M)|
|Book Value (Riyal)|