Alkhabeer Capital to list 1b riyals REIT

Alkhabeer Capital, the asset manager specialised in alternative investments, said yesterday it has received Capital Market Authority (CMA) approval to publicly list its Sharia-compliant Alkhabeer REIT Fund with assets in excess of 1 billion Saudi riyals (Dh980 million) and an IPO size of 237 million riyals, equating to 24 per cent of total fund assets.

The Fund invests in seven income-generating real estate assets at prime locations in Riyadh, Jeddah and Tabuk and targets returns of over 9 per cent per annum. (Staff Report)