With a capitalization of 1.17 billion riyals, Daraya Capital starts today “Daraya REIT” fund in preparation for its listing on the financial market, making it one of the largest real estate investment funds traded.

Receivers represented by Riyad Bank, the National Commercial Bank and the Arab National Bank, along with Daraya Financial and through its branches, will begin subscriptions.

Riyad Bank, the National Commercial Bank, the Arab National Bank and Daraya Financial through its branches operating throughout the Kingdom and its electronic channels will begin receiving subscription requests from investors wishing to participate in the public offering of the fund, which will continue until the end of business on Sunday, Rabi'II 20, 1439 H corresponding to January 7, 2018.

Daraya Financial was the first company to start the subscription process for the “Daraya REIT” fund in preparation for its listing on the capital market.

Daraya Capital, one of the leading companies in the Saudi market in the financial investment, wealth and asset management sector, had previously announced the approval of the Capital Market Authority (CMA) to offer the units of the “Daraya REIT” real estate fund in a public offering as a closed-ended investment fund compliant with Islamic Shari'ah.

Daraya REIT aims to offer the units of the real estate fund as a closed-ended investment fund. <Daraya REIT targets a cash dividend of 7.22TP3T per annum twice a year, which is the highest yield compared to other currently traded REITs and recently approved REITs. This return comes through the acquisition of fifteen real estate assets for Daraya REIT, making it the most diversified real estate fund among ETFs in the Saudi market, which contributes to achieving a growing return on investors“ capital through income-generating investment channels.