IslamicFinance.de

Al-Rajhi Capital said, the initial public offering period of Al-Rajhi REIT Fund will run from Jan. 1 to Jan. 14. The fund will have a size of $ 282 million, according to the fund manager. Some 42.67 million units will be offered to investors at SR 10 each.
“The Sharia-compliant fund aims to acquire or invest in income-generating commercial, office, and educational assets, as well as warehouses, which are mainly located in the Kingdom, except for Makkah and Madinah,” was said in a statement.
The preliminary portfolio comprises 13 assets that generate income at the end of January and July of every year.
The fund’s assets are spread across various sectors in the Kingdom: Retail 54 %, warehouses 12 %, offices 26 % and education 8 %. Eligible investors are Saudis, GCC nationals, foreigners residing in the Kingdom, institutions, companies, and investment funds operating in the Kingdom, along with other Qualified Foreign Investors.

A seminar organized by Al-Rajhi Capital disclosed in Riyadh that the Saudi government has been extremely serious about exploiting its investment potential for the benefit of investors and nation at large.
But there is a need to exert more efforts to enhance customers’ awareness about local and international investment potentials and to assist them in taking the right investment decision.
Al-Rajhi Capital, the investment banking subsidiary of Saudi Arabia’s Al-Rajhi Bank, has launched a program under which eight investment seminars are being organized across the Kingdom.
A seminar will be held on April 2 in Jeddah at Al-Rajhi Capital Center, while another seminar will be organized in Dammam on April 23.