Alwaha REIT Fund debuts on Nomu today

Allocation Details

Capital Share

Units

 (mln)

Price

 (SAR mln)

Coverage ratio

In-kind

78.49 %

11.77

117.73

--

Cash 

21.51%

3.23

59.30

179.62%

Fund Profile

Fund

Alwaha REIT Fund

Fund Manager

Wasatah Capital

Investment Objectives

The fund aims to invest in structurally developed real estate properties that are capable of generating periodic and leasing income, and to distribute a specified percentage of not less than 90% of the fund’s annual net profits in cash to unitholders during the fund’s term.

Capital

SAR 150 mln

Term

99 years as of the date of debut in Nomu-Parallel Market

Target Assets

• Residential Building - Al Nakhil District
• Offices and showrooms Shahd Building
• Olaya Station
• Al-Hayer Showrooms and Offices
• Azizia warehouses block 9
• Azizia warehouses block 10
• Azizia warehouses block 12
• Factory Warehouse Plot 192
• Factory Warehouse Plot 197
• Factory Warehouse Plot 202
• Factory Warehouse Plot 207
• Factory Warehouse Plot 202

Administrative Fees

1% annually of the fund's total asset value

Dividend Distribution

The fund manager aims to distribute semi-annual cash dividends to investors, to be distributed within 30 working days from the beginning of each half year, on the first day of January and July, provided that the distributions are not less than 90% of the annual net profits of the fund, except for proceeds resulting from the sale of the fund’s real estate assets which are to be reinvested in other investment assets in the interests of the unitholders, or as may be deemed necessary by the fund's board of directors.