19 Jul, 2017
Musharaka Capital obtained the approval of the Capital Market Authority (CMA) to offer, register and list the “Musharaka REIT Fund” in the market as real estate investment fund in the form of public offering.
"Musharaka REIT Fund" is a closed-end public real estate investment fund, where the size of the Fund's capital amounts to SR 880 million, Making it the largest real estate exchange traded fund in the Saudi market so far, and the Fund’s offering will be in the period from 25/07/2017 till 03/08/2017.
The Fund's strategy is to invest in structurally developed real estate assets capable of achieving regular rental income. The Fund Manager is also committed not to invest in white lands; in addition to the annual distribution of 90% of the Fund's net income to the investors. The real-estate assets of "Musharaka REIT Fund" are diversified over residential, industrial and hospitality sectors.
The launch of "Musharaka REIT Fund" has come after the CMA’s approval of the regulations governing the real estate investment traded funds last October thereby, becoming the sixth real estate investment traded fund in the Saudi market.
A copy of the Fund’s terms and conditions can be obtained from the Musharaka Capital's and the CMA’s websites.