Here’s a closer look at AlAhli REIT Fund (1)

AlAhli REIT (1) Profile

Fund

AlAhli Real Estate Investment Traded REIT(1) Fund, sharia-compliant REIT

Fund manager

NCB Capital

Investment Purposes

Investing in income-generating, developed real estate assets

Targeted assets

Alandalus Mall and Staybridge Suites Jeddah

IPO period

From Dec. 6 until Dec. 19, 2017

Fund Size

SAR 1.375 bln

Subscription fees

2% of subscription amount

Management fees

1% from total assets after deducting expenses per year, payable semi-annually

Funding

The fund manager may obtain sharia-compliant financing, on the fund’s behalf, of not more than 50% of total assets.

Trading ban period

Three years from the fund’s listing date for Alandalus Property Co. on 67.5 mln units, representing 50% of total fund’s assets.

Minimum Subscription Limit

SAR 10,000

Maximum Subscription Limit

Less than 5% of total assets, or less than SAR 68.75 mln.

Cash Dividend

Cash dividend for unit holders of not less than 90% of the fund’s net profit, twice a year

REIT’s trading

Same as other Saudi-listed REITs

REIT Units

Subscription type

Number of units (mln)

Unit value

(SAR mln)

Percentage of total fund value

Alandalus Property Co. (material)

94.5

945.0

68.73 %

NCBC (monetary)

1.75

17.5

1.27 %

Public (monetary)

41.25

412.5

30%

Total

137.50

1375.0

100 %