With a capital of 6,090,000,000 Saudi riyals, Al-Inmaa Investment Company today launched a public offering of units in the “Al-Inmaa Makkah Real Estate Fund” for Saudi citizens for a period of thirty days, with the subscription period ending on Tuesday, October 17, 2017. The fund is a real estate investment vehicle; it is a closed-end income-generating fund that complies with Sharia standards and regulations.

On this occasion, Saleh Al-Hanaki, CEO of Al-Inmaa Investment Company, explained that one of the fund’s objectives is to generate periodic returns for investors through the acquisition of real estate within the first phase of the Jabal Omar project adjacent to the Grand Mosque, with a five-year term, extendable for a similar period. These assets will be leased back to Jabal Omar Development Company for a period of ten years at a return of 540 million riyals.

Al-Hanaki added that all citizens, whether individuals or institutions, can subscribe to the fund with a minimum investment of 10,000 Saudi riyals via the company’s website or by visiting any branch of Al-Inmaa Investment Company.

It should be noted that Al-Inmaa Investment Company is the investment arm of Al-Inmaa Bank; it is licensed by the Capital Market Authority to conduct all securities-related business, and has previously offered a wide range of investment services and products.