Swicorp is making a public offering of units of Swicorp Wabel REIT in the Saudi market starting today, Monday, March 19, 2018, for a period of 15 business days ending on April 8, 2018.

Swicorp is offering units of Swicorp Wabel REIT in the Saudi market starting today, Monday, March 19, 2018, for 15 business days ending on April 8, 2018. The fund targets to distribute a net return to investors of 7.7% in 2018, 8.14% in 2019 and 8.30% in 2020, so that the average net return target for these three years is 8.06%, noting that it is the highest as of the date of its offering among real estate investment trusts traded on the Saudi Stock Exchange based on nominal values.

Swicorp said that the fund's net return is the highest as of the date of its offering among real estate investment trusts traded on the Saudi Stock Exchange based on nominal values. Swicorp explained in the terms and conditions of the fund that the number of units offered to the public is 35.40 million units, at a price of 10 Saudi riyals per unit, worth 354 million riyals, representing 30% of the fund's size of 1.18 billion riyals.

The fund's units will be listed on the Saudi Stock Exchange based on their nominal values. <The units of the Sharia-compliant fund will be listed on the Saudi Stock Exchange (Tadawul) after the completion of the offering, and the minimum investment in the fund is SAR 500. Swicorp Wabel REIT's investment portfolio consists of 4 developed and income-generating malls under the name “Al Makan Mall”, with assets located in Riyadh, Tabuk City, Hafar Al Batin and Dawadmi Governorate.

Wabel REIT's investment portfolio consists of 4 developed and income-generating malls under the name “Al Makan Mall”. Swicorp said that most of the assets are located in under-served cities with high demand and low supply for commercial and leisure destinations similar to the Fund's properties, either because there is little or no alternative.

Swicorp said that all of the assets are located in under-served cities. <All of the Fund's assets are newly constructed, with the oldest property in the portfolio completed in 2015. <The fund aims to invest in diversified real estate assets in the Kingdom's cities (excluding the holy cities of Makkah and Madinah), which are located in the cities of Saudi Arabia (excluding the holy cities of Makkah and Madinah). with favorable investment profiles, a positive flow of real estate investments and demand growth, and a good infrastructure.

Wabel Arabia Investment Company, the principal owner of SWCW REIT's properties, is engaged in the development of malls and owns 23 malls under the name “Al Makan Mall”, four of which are in SWCW REIT's portfolio, with an average occupancy rate of 96.38 %.

Wabel Arabia Investment Company, the principal owner of SWCW REIT's properties, is engaged in the development of malls.