Al-Rajhi Capital

#Al-Rajhi #REIT #shares to go on #sale next week

Al-Rajhi Capital said, the initial public offering period of Al-Rajhi REIT Fund will run from Jan. 1 to Jan. 14. The fund will have a size of $ 282 million, according to the fund manager. Some 42.67 million units will be offered to investors at SR 10 each.
“The Sharia-compliant fund aims to acquire or invest in income-generating commercial, office, and educational assets, as well as warehouses, which are mainly located in the Kingdom, except for Makkah and Madinah,” was said in a statement.
The preliminary portfolio comprises 13 assets that generate income at the end of January and July of every year.
The fund’s assets are spread across various sectors in the Kingdom: Retail 54 %, warehouses 12 %, offices 26 % and education 8 %. Eligible investors are Saudis, GCC nationals, foreigners residing in the Kingdom, institutions, companies, and investment funds operating in the Kingdom, along with other Qualified Foreign Investors.

Professional advice 'vital for investors'

A seminar organized by Al-Rajhi Capital disclosed in Riyadh that the Saudi government has been extremely serious about exploiting its investment potential for the benefit of investors and nation at large.
But there is a need to exert more efforts to enhance customers’ awareness about local and international investment potentials and to assist them in taking the right investment decision.
Al-Rajhi Capital, the investment banking subsidiary of Saudi Arabia’s Al-Rajhi Bank, has launched a program under which eight investment seminars are being organized across the Kingdom.
A seminar will be held on April 2 in Jeddah at Al-Rajhi Capital Center, while another seminar will be organized in Dammam on April 23.

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