Back to REIT

Alkhabeer REIT Wins “Best Islamic REIT 2020” Award

17 September 2020

Alkhabeer REIT Wins Best Islamic REIT 2020” Award

Jeddah, Saudi Arabia – Thursday, 17 September 2020: Alkhabeer Capital, the asset manager specializing in alternative investments, announced today that Alkhabeer REIT, a publicly offered closed-ended Shari’a-compliant real estate investment traded fund, has won ‘Best Islamic REIT 2020’ award as part of the
10th edition of the prestigious Global Islamic Finance Awards.

The Fund’s performance and unique characteristics were recognized by Global Islamic Finance Awards following a thorough assessment by a committee of experts, who considered various factors such as its performance, competitive advantages and Shariah compliance.

Commenting on this achievement, Mr. Ahmed Saud Ghouth, Chief Executive Officer of Alkhabeer Capital, said: “The selection of Alkhabeer REIT as the Best Islamic REIT of 2020 comes in recognition of its competitive advantages and commitment towards providing various sources of income, which in turn positively affects the performance of the Fund.”

This follows the completion of the secondary offering of Alkhabeer REIT Fund, which was oversubscribed at 104%, thereby increasing Alkhabeer REIT’s value by 70% to reach SAR 1.71 billion.

Earlier this month, Alkhabeer REIT was selected to be included in the prominent FTSE EPRA Nareit Global Real Estate Index starting from 21 September 2020. The announcement was made by FTSE Russell as part of the FTSE EPRA Nareit Global Real Estate Index September 2020 quarterly review, which concluded on 4 September 2020.

Alkhabeer Capital, headquartered in the Kingdom of Saudi Arabia, specializes in alternative investments and investment services. It is authorized by the Capital Market Authority (CMA), license number 07074-37.

– Ends –