Alkhabeer Capital launches IPO of real estate investment fund on Tadawul

Alkhabeer REIT invests in seven income-generating real estate assets at prime locations in Riyadh, Jeddah and Tabuk
Alkhabeer Capital launches IPO of real estate investment fund on Tadawul
Ahmed Saud Ghouth, CEO of Alkhabeer Capital.
By Neil Halligan
Sun 11 Nov 2018 12:19 PM

Alkhabeer Capital launched the initial public offering (IPO) of its Shari’ah compliant real estate investment fund on the Saudi Stock Exchange (Tadawul). 

Alkhabeer REIT (real estate investment trust) fund, with assets in excess of SAR1 billion ($267m), launched a SAR237 million ($62m) IPO, equating to 24% of total fund assets.

Alkhabeer Capital, an asset manager that specialises in alternative investments, said the fund invests in seven income-generating real estate assets at prime locations in Riyadh, Jeddah and Tabuk. 

“The target returns of over 9% per annum, distributed quarterly, are among the highest in comparison with other real estate investment traded funds listed on the Saudi Stock Exchange (Tadawul),” said Ahmed Saud Ghouth, CEO of Alkhabeer Capital.

Subscription in Alkhabeer REIT units is scheduled to continue until Thursday November 29.

Prospective subscribers may apply through the following institutions: Aljazira Capital, National Commercial Bank, Riyad Bank, Al-Rajhi Bank, Arab National Bank and Saudi Fransi Bank.

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