With a capital of 572.4 million riyals, the Capital Market Authority has approved the offering, registration, and listing of units of Al-Mashair REIT on the capital market (Tadawul) as units of a closed-end, publicly offered real estate investment trust (REIT) that complies with Sharia principles. The fund was established in accordance with the laws and regulations in force in the Kingdom of Saudi Arabia and is subject to the regulations and directives of the Capital Market Authority.

The fund aims to invest in a portfolio of income-generating real estate assets located exclusively in the cities of Makkah and Madinah, in line with the fund’s investment strategies, Its units will be offered for subscription over a period of 5 business days, from November 1 through November 7, 2017.

Al-Mashair REIT is the eighth real estate investment trust (REIT) to be listed on the Saudi stock market (Tadawul) and the first REIT to allocate all of its units for public offering.