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Overview
The Shariah-compliant real estate investment trust (REIT) was launched in 2017 with a capital of SAR 600 million. The fund is managed by SEDCO Capital.
The fund seeks to generate regular income by investing in diversified real estate assets, located around Saudi Arabia, except for Mecca and Medina. Its investment portfolio comprises 10 properties, spanning the hospitality, commercial, offices and residential segments.
Investment Policy
The Fund invests primarily in income-generating, developed real estate assets wherein it invests no less than 75 percent of its assets.
It may invest up to 25 percent of its assets into real estate development projects, and up to 25 percent into property located outside Saudi Arabia. It shall not invest in vacant (white) lands.
Dividend Policy
The Fund will distribute no less than 90% of its net income to unit-holders semiannually.
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
Basic Information
| Fund Manager | Saudi Economic and Development Company |
| Custodian | Alinma Investment Company |
| Auditor | Ernst & Young Professional Services Co |
| Real Estate Valuators | Jones Lang LaSalle, Knight Frank Corporation, Valustart Company, White Cubes Company, Esnad For real estate appraisal Co. |
| Argaam Classification | |
| Market Sector | REITS |
Facts & Stats
| Fund Size | 1,869.44 Million |
| Capital | 1,869.44 Million |
| No. of Units | 186.94 Million |
| Unit Price | 10.00 Riyal |
| Currency | Riyal |
| Valuation Period | Semi-annual |
| Management Fee | 1.00 % |
| Custodian Fee | 0.04 % |
| Transaction expenses | - |
| Other expenses | 1.00 % |
Trading Data
| Stock Market : | TASI |
| Fiscal Year End : | December |
| 3M Average Volume : | 270,172 |
| 3M Average Transactions : | 1,247 |
| Change(12M) % : | (26.36) |
Major Shareholders
| Name | Number of Shares (M) | Holding |
|---|---|---|
| SEDCO Holding | 22.30 | 11.93 % |
| King Abdulaziz Aziziyah Waqaf | 22.30 | 11.93 % |
| Human Resources Development Fund | 11.61 | 6.21 % |
| Al Ahli Capital Co. | 10.00 | 5.35 % |