With a capital of 1,628.8 million riyals, Saudi Fransi Capital announced the launch of the Bonyan REIT, with a public offering of 651.5 million riyals, equivalent to 40% of the fund’s total size.

The current assets of the Bonyan REIT consist of 10 distinctive properties—4 shopping centers, 3 hotels, 2 residential complexes, and a residential building in Dubai City Walk. These assets were carefully selected for their presence in five different cities, which is considered an appropriate choice in terms of geographic and sectoral diversification, in addition to the size of these assets.

Al-Fransi Capital had previously launched the “Ta’aleem REIT” as its first real estate investment trust in the Kingdom, focusing on the educational real estate sector; it is the first REIT to distribute dividends on a quarterly basis.

French Capital’s funds are considered Sharia-compliant real estate investment trusts (REITs) intended for trading and will be listed on the Saudi Stock Exchange (Tadawul) at a later date.