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Investor Relations
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FinancialNews
02-01-18
Saudi Arabia: Al Rajhi Capital launch largest REIT IPO
(MENAFN) The most major real-estate investment fund (REIT) IPO in Saudi Arabia has initiated by Al Rajhi Capital with an estimated fund size of $431.6 million.
Public subscriptions are set to carry on until January 14, as a 42.67 million units at $2.67 each is to be presented by the fund manager.
The fund plans to acquire and invest across Saudi Arabia in commercial, office and education assets, in addition to warehouses with a 6.1% targeted yield in 2018, according to Al Rajhi.
In a statement, the company announced "the fund's investment target is to invest in developed, income-generating assets, and to lease and distribute at least 90 percent of the fund's annual net income in cash over the fund term on a semi-annual basis."
MENAFN0201201800450000ID1096297897
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