<Al Rajhi Financial Investment Company plans to invest 1621.9 million riyals, where the fund manager intends to offer 42.67 million units at a subscription price of ten riyals per unit, and the fund began offering its units yesterday, Sunday, and will continue until the 14th of the same month.
“Al Rajhi Financial” indicated that the offering will be available for investors to start submitting subscription requests during the offering period through the receiving parties, which are the electronic channels at Al Rajhi Bank and the investment centers in Al Rajhi Financial, with a minimum subscription of one thousand riyals. <Al Rajhi Financial said that the investment objective of the fund is to invest in structurally developed real estate that can generate periodic income, rent and distribute at least 90% of the fund's annual net profits in cash to unit holders during the term of the fund on a semi-annual basis.
The Fund's initial portfolio consists of 13 fully developed, income-producing real estate assets at the end of both January and July of each calendar year. The Fund generally seeks to acquire or invest in income-producing commercial, office, educational and warehouse real estate assets located primarily in Saudi Arabia, excluding Makkah and Medina.
The Fund's assets are spread across a number of cities in Saudi Arabia and the types of real estate sectors are also diverse, including 54% retail, 12% warehousing, 26% office and 26% education.
Participation in the units will be available only to the following categories: Natural persons holding Saudi nationality or the nationality of a GCC member state; institutions, companies, investment funds and other legal entities based in Saudi Arabia; foreigners residing in Saudi Arabia; and qualified foreign investors under the rules governing the investment of qualified foreign financial institutions in securities.
“Al Rajhi Financial” indicated that the offering will be available for investors to start submitting subscription requests during the offering period through the receiving parties, which are the electronic channels at Al Rajhi Bank and the investment centers in Al Rajhi Financial, with a minimum subscription of one thousand riyals. <Al Rajhi Financial said that the investment objective of the fund is to invest in structurally developed real estate that can generate periodic income, rent and distribute at least 90% of the fund's annual net profits in cash to unit holders during the term of the fund on a semi-annual basis.
The Fund's initial portfolio consists of 13 fully developed, income-producing real estate assets at the end of both January and July of each calendar year. The Fund generally seeks to acquire or invest in income-producing commercial, office, educational and warehouse real estate assets located primarily in Saudi Arabia, excluding Makkah and Medina.
The Fund's assets are spread across a number of cities in Saudi Arabia and the types of real estate sectors are also diverse, including 54% retail, 12% warehousing, 26% office and 26% education.
Participation in the units will be available only to the following categories: Natural persons holding Saudi nationality or the nationality of a GCC member state; institutions, companies, investment funds and other legal entities based in Saudi Arabia; foreigners residing in Saudi Arabia; and qualified foreign investors under the rules governing the investment of qualified foreign financial institutions in securities.
The units will be available only to the following categories.
