In conjunction with the launch of the IPO units of the Shari’ah compliant Alkhabeer REIT Fund, Alkhabeer Capital, the asset manager specialized in alternative investments, held an induction meeting at Laylati Hall in Jeddah. The meeting was attended by many. investors and media representatives
During the meeting, Mr. Ahmed Saud Ghouth, Chief Executive Officer of Alkhabeer Capital, said: “The Initial Public Offering (IPO) of Alkhabeer REIT has attracted a lot of interest from subscribers who wish to successfully capitalize on the significant opportunities offered by the Fund, since the target returns of 9 per cent per annum are considered among the highest in comparison with other real estate investment traded funds listed on the Saudi Stock Exchange (Tadawul).”
Mr. Ghouth stated that “Subscription in Alkhabeer REIT Units is scheduled to continue until Thursday 21 Rabi Awal 1440H, corresponding to 29 November 2018. Prospective subscribers may apply through the following institutions: Aljazira Capital, National Commercial Bank, Riyad Bank, Al-Rajhi Bank, Arab National Bank and Saudi Fransi Bank.”
“The IPO will cover SAR 237 million, equating to 24 per cent of the total Fund assets which exceed SAR 1 billion.” he added.
Information about the fund, including an executive summary, terms and conditions, and risk factors, is available at https://www.alkhabeer.com/REIT.
Alkhabeer Capital, headquartered in the Kingdom of Saudi Arabia, specializes in alternative investments and investment services. It is authorized by the Capital Market Authority (license number 07074-37).