Osool & Bakheet lists $164m REIT on Saudi's Tadawul

The real estate investment trust has been listed with a daily limit of 10% price fluctuation per unit

Osool & Bakheet has listed its $163.6m Al Ma'ather REIT on Tadawul [representational image].
Osool & Bakheet has listed its $163.6m Al Ma'ather REIT on Tadawul [representational image].

Saudi Arabia's Osool & Bakheet Investment Company has listed its real estate investment trust (REIT), Al Ma'ather, on the kingdom's bourse, Tadawul. 

The REIT has been listed with a daily limit of 10% price fluctuation per unit. 

READ: Up to 10 new Saudi REITs likely in 2017, expert tells ConstructionWeekOnline

According to Osool & Bakheet's website, Al Ma'ather REIT's fund size is $163.6m (SAR613.7m). 

The website adds: "The fund aims to invest in real estate assets [in] Saudi Arabia, which are able to produce periodic rental income, and to distribute at least 90% of the net income of the fund annually.

"In a secondary form, the fund can invest in real estate development projects considering 75% of the total fund assets must be income generating and the fund will not invest in white lands."

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