MEFIC to list REIT units on Tadawul soon, says fund manager

MEFIC REIT will list its units on Saudi Stock Exchange (Tadawul) soon, the fund manager told Argaam.

All subscribed units were allocated to investors at 100 percent oversubscription ratio, as a total of 31,160 subscribers invested SAR 404.57 million during the offering period, the manager said.

The REIT’s asset base comprises eight real properties worth a combined SAR 1.2 billion, dispersed around Saudi Arabia and the UAE, including offices, residential units, warehouses, hotels and retail space.

The fund announced it will ensure a minimum return of five percent to unit holders, though annual returns may surpass that. It targets a net return of 7.5 percent for 2018 that rises gradually to 7.9 percent in 2021.

The table below cites more properties the fund seeks to acquire going forward: