Subscription to Al Rajhi REIT additional units begins today

Logo of Al Rajhi REIT Fund

The subscription period to increase the total asset value of Al Rajhi REIT Fund through an additional offering for investors will start today, May 17, through May 30. 

A total of 113.75 million units will be offered at SAR 8.90 apiece. 

The fund aims to increase the value of its total assets to complete the acquisition of two assets, namely Riyadh Avenue Mall and Al-Henaki Business Centerin Jeddah. 

In April, the Capital Market Authority (CMA) approved the fund manager’s request to increase the fund's total asset value through issuing additional units to acquire new real estate properties, according to data compiled by Argaam. 

Subscription to additional units will be available to: 

- Unitholders registered on the day of the unitholders’ meeting slated to approve the increase in the total assets and those wishing to participate in the additional units. 

- Natural persons with Saudi nationality and GCC citizens. 

- Natural persons residing in the Kingdom. 

- Institutions, companies, investment funds and other entities, as well as legal persons based in Saudi Arabia, qualified foreign investors, and Gulf investors.

The receiving entities are Riyad Bank, Alinma Bank, AlJazira Capital, Al Rajhi Bank, Arab National Bank and Banque Saudi Fransi.