It is a real estate investment trust (REIT) that aims to invest in real estate assets within the Kingdom of Saudi Arabia capable of generating periodic rental income, and to distribute no less than 90% of the fund's net profits annually. The fund also invests a secondary portion of its assets in real estate development projects, provided that the assets invested in developed real estate generating periodic income do not fall below 75% of the fund's total assets according to the latest audited financial statements, and that the fund does not invest its assets in undeveloped land.
Type of Fund
A closed, public traded real estate investment fund that complies with Sharia standards and controls, and was established in accordance with the Real Estate Investment Funds Regulations.
Fund Objective
The fund aims to invest in real estate assets within the Kingdom of Saudi Arabia that can generate periodic rental income and distribute profits.
Fund Size
1,180,000.000
Size of the In-Kind Offering
454,000,000
Unit Offering Price
10.00
Listing Date
2017/12/28
Number of Assets
8
Risk Level
High
Fund Duration
99 years
Management Fee
0.75% of the fund's net assets, with a maximum of 12% of net operating income
