Musharaka REIT Fund
4335.SR
Saudi Exchange4.00
SAR
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Musharaka REIT Fund
4335.SR
(Saudi Exchange)
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4.00
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- Musharaka REIT Fund (4335.SR) is a closed-end, Shariah-compliant real estate investment traded fund (REIT) listed on the Saudi Exchange (Tadawul) that invests in a diversified portfolio of income-generating real estate assets primarily in major Saudi cities including Riyadh, Dammam, Jubail, Al Khobar, Al Kharj and Dhahran, with a mandate to allocate up to 25% of assets outside Saudi Arabia; the fund, managed by Musharaka Capital and operational since August 2017 with headquarters at Adeer Tower in Al Khobar, Saudi Arabia, targets residential, commercial, hospitality, retail, office, automotive showrooms, hotel apartments and industrial/warehouse sectors through properties such as Al Orouba Plaza Complex and Orouba Plaza (mixed-use commercial in Riyadh), Al-Bazai Automotive Showrooms (Riyadh), Al Faisaliah Plaza and Al Jubail Plaza (strip malls in Dammam and Jubail), Kharj Plaza (Al Kharj), Verdun Tower (Olaya district Riyadh), Ferdin Tower (recently acquired in Riyadh), Gardeno Hotel (Riyadh), Hotel Apartment Dhahran (Al Khobar), Sea Shore Residential Complex and Al Rakah Residential Complex (Al Khobar), Al-Aziziyah Residential Complex (Al Khobar), Al Lulu Residential Complex (Al Khobar) and Al-Baraka Warehouses (Riyadh); it distributes at least 90% of net income semi-annually as cash dividends to its 88 million units, maintains total assets of SAR 1.54 billion and net asset value per unit of SAR 8.18 as of June 30, 2025, and is included in the FTSE EPRA/Nareit Global Real Estate Index Series. Recent developments include multiple updates to fund terms and conditions effective October 2025 and May 2025 addressing management fees, zakat provisions and operational clauses; a non-fundamental change appointing KPMG as chartered accountant effective August 2025; appointment of Dr. Ibrahim Mohammed Alqahtani as independent board member in September 2025; acquisitions such as Ferdin Tower in Riyadh (binding agreement March 2022, completed April 2022) and Al-Baraka Warehouses leased to a global logistics firm (June 2022); a SAR 1 billion Shariah-compliant Murabaha financing agreement with Bank Aljazira (November 2022); semi-annual property valuations by independent firms including Wasm United, Abaad, ValuStrat and JLL as of June 2025; and ongoing dividend distributions such as SAR 0.10 per unit for second half 2023 (announced March 2024) and cash dividends for H1 and H2 2024.