Yesterday, Tuesday, August 22, 2017, the Saudi market saw the listing and commencement of trading of units of \u201cAl-Ma\u2019athar REIT\u201d in the real estate investment trust sector under the ticker symbol 4334, with a daily price fluctuation limit of 10%.<\/p>\n
The fund\u2019s initial public offering was completed in the first week of last month, with an oversubscription ratio of 1520% and total subscription proceeds of 2.8 billion riyals.<\/p>\n
The listing of the \u201cAl-Ma\u2019athar REIT\u201d marks the fifth listing of income-generating real estate investment trusts (REITs) on the Saudi market, following the \u201cRiyadh REIT,\u201d which was listed in November 2016, the \u201cAl-Jazirah Mawtan REIT,\u201d which was listed last February; \u201cJadwa Al-Haramain REIT,\u201d which was listed at the end of last April; and \u201dTa\u2019lim REIT,\u201d which was listed in May 2017.<\/p>\n
The \u201cMusharaka REIT\u201d fund was also offered for subscription and was oversubscribed by a factor of 1021 %, and the offering of \u201cMalakiya \u2013 Gulf Real Estate REIT\u201d was approved.<\/p>\n
All of the fund\u2019s initial investments are located in the city of Riyadh, however, for the purpose of diversifying its investments, the Fund may invest in other regions of the Kingdom, in addition to being able to invest up to 25% of the Fund\u2019s total asset value in real estate located outside the Kingdom.<\/p>","protected":false},"excerpt":{"rendered":"
Reading time: <\/span> < 1<\/span> Minute<\/span><\/span>Yesterday, Tuesday, August 22, 2017, the Saudi market saw the listing and commencement of trading of units of \u201cAl-Ma\u2019athar REIT\u201d in the real estate fund sector under the ticker symbol 4334, with a daily price fluctuation limit of 10%. The fund\u2019s initial public offering was completed in the first week of last month, with a subscription rate of 1520%, while the total \u2026 Read 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