Malakiyah Investment Company confirmed that it is working with regulatory authorities to complete the procedures for transferring ownership of real estate assets to the fund and to finalize the regulatory procedures for listing the units on the Saudi Stock Exchange (Tadawul). Malakiya Investment said in a statement that it has begun refunding excess subscription proceeds three business days after the announcement of the subscription results and the allocation announcement, effective Monday, October 2, 2017.

The total value of subscription applications for the “Malakiya Gulf Real Estate REIT”  reached 3.95 billion riyals, with approximately 27,844 subscribers, including individuals, institutions, and investment funds, and a coverage ratio of 20 times, during the public offering of the fund’s units last September.