Muscat Capital - Al Masha'ar REIT Fund
Price History
Company Information
Company Name
Muscat Capital - Al Masha'ar REIT Fund
Sector / Industry
Real Estate / REIT - Diversified
Country
Saudi Arabia
CEO
Mr. Wissam Fareed Haddad
Employees
33
Website
Description
SICO Saudi REIT Fund is a closed-ended Shari ah-compliant real estate investment traded fund. The REIT operates in accordance with Real Estate Investment Funds Regulations and REIT Instructions issued by the CMA. The main objective of the Fund is to provide current income to investors by investing in real estate assets that have been developed with income generating and investment development by investing at least 55% of the total value of the Funds assets according to the latest audited financial statements in Makkah and Madinah, And 45% in income-producing real estate assets in Saudi Arabia (excluding Makkah and Madinah). The fund invests mainly in real estate in Saudi Arabia. However, the Fund may invest in real estate outside Saudi Arabia for no more than 25% of the total value of the Funds assets. As the fund will invest primarily in developed and ready-to-use real estate assets, it may also invest in viable real estate development projects with the aim of increasing the value of the unit provided that the fund does not invest in white land. The Fund is also entitled to invest in the renovation and redevelopment of existing properties, property repurchase agreements, usufruct, Islamic deposits, The units of investment funds licensed by the CMA, the shares of real estate companies that comply with the rules of Islamic Sharia and listed in Tadawul and no more than 25% of the total value of the assets of the Fund. The Fund Manager intends to distribute an annual cash dividend of at least 90% of the net profit of the Fund twice a year in January and July of each calendar year, excluding capital gains from the sale of real estate assets and other investments that may be reinvested in other properties as determined by Board of Directors of the Fund.
Address
MEFIC Tower,7702 King Fahad Road Al Malqa District, 5th floor, Riyadh, Riyadh Province 11546
Key Statistics
- Exchange
- Tadawul (XSAU)
- Currency
- Saudi Riyal
- ISIN
- SA14DG523OL4
- IPO Date
- January 23, 2018
- Latest Price Date
- Open
- SAR
- High
- SAR
- Low
- SAR
- Close
- SAR
- Volume
- 52-Week Range
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