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
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.
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."