Jadwa REIT Saudi Fund units added to investor accounts

06/02/2018 Argaam

Jadwa REIT Saudi Fund (Jadwa REIT Saudi) units have been added to investor accounts, the Securities Depository Center Co. (Edaa) said in a statement to the Saudi Stock Exchange (Tadawul) on Tuesday.

 

The REIT’s initial public offering (IPO) last month was oversubscribed by 121 percent, with 57,639 subscribers injecting SAR 573 million in cash. The offering ran for 15 working days from Jan. 4- 23.

 

The fund seeks to generate SAR 129.96 million in leasing income in 2018, from which it will distribute up to 90 percent. Its current asset base includes five real estate assets in Riyadh, Dammam and Al-Khobar, worth SAR 1.55 billion.

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