Time: November 06, 2018
ALKHABEER Capital, the asset manager specialized in alternative investments, launched Saturday the Initial Public Offering (IPO) of its Shariah-compliant Alkhabeer REIT Fund, with assets in excess of SR1 billion and an IPO size of SR237 million, equating to 24% of total Fund assets.
Subscription in Alkhabeer REIT Units is scheduled to continue until Thursday 21 Rabi Awal 1440H, corresponding to 29 November 2018. Prospective subscribers may apply through the following institutions: Aljazira Capital, National Commercial Bank, Riyad Bank, Al-Rajhi Bank, Arab National Bank and Saudi Fransi Bank.
Ahmed Saud Ghouth, Chief Executive Officer of Alkhabeer Capital, expressed his confidence in the new fund, saying, “The target returns of over 9% per annum, distributed quarterly, are among the highest in comparison with other real estate investment traded funds listed on the Saudi Stock Exchange (Tadawul).” Alkhabeer REIT invests in seven income-generating real estate assets at prime locations in Riyadh, Jeddah and Tabuk.
Information about the fund, including an executive summary, terms and conditions, and risk factors, is available at https://www.alkhabeer.com/ar/REIT.
Alkhabeer Capital, headquartered in the Kingdom of Saudi Arabia, specializes in alternative investments and investment services.