Al Mashaar REIT receives SAR 19 mln lease income for H1

31/01/2018 Argaam

Muscat Capital’s Al Mashaar REIT Fund has received a SAR 19.3 million lease income for its constituent units, covering the first half of 2018, , the fund manager said in a stock market filing.

 

The Saudi-listed fund collects lease payments for six months in advance, as widely applicable in the Saudi market.

 

As per the listing memo, the fund would distribute 90 percent of its annual income to unit-holders, excluding capital gains from asset disposals.

 

Rental income is usually invested in bank deposits and other investments in line with market regulations, the manager added.

 

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