Al Rajhi REIT Fund
TTADAWUL:43407.85
SAR
+0.11
(+1.42%)
Al Rajhi REIT Fund
TADAWUL:4340
(Saudi Exchange)
Recent
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7.85
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yld
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ROIC.AI
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- Business
- Al Rajhi REIT Fund (Al Rajhi REIT) functions as a closed-ended, Shariah-compliant real estate investment trust, with its unit offering gaining approval from the Saudi Arabian Capital Market Authority on December 18, 2017. The fund's operations strictly adhere to the Real Estate Investment Funds Regulations and associated REIT Instructions published by the CMA. Al Rajhi REIT is publicly traded on Tadawul, where its units are bought and sold according to exchange rules and regulations. Initially established with a capital of SAR 1,222,006,090, divided into 122,200,609 units at an inaugural price of SAR 10 per unit, the fund expanded its capital. In the final quarter of 2019, it undertook an asset value increase through the issuance of 39,656,248 units at SAR 8.8 each. Subsequently, in May 2023, the fund's capital was further augmented to SAR 2.756 billion, distributing an additional 113,750,641 units at an issue price of SAR 8.9 per unit, bringing the current total outstanding units to 275,607,498. Al Rajhi REIT maintains a term of 99 years, with potential for extension at the fund manager's discretion, subject to board and CMA approval. The primary investment objective of Al Rajhi REIT is to engage in income-generating real estate assets located within Saudi Arabia, aiming to deliver consistent cash dividends to investors. The fund is mandated to distribute no less than 90% of its net income annually, with distributions now occurring on a quarterly basis for periods ending in March, June, September, and December, commencing from 2023. Capital gains from property sales are typically reinvested to acquire additional assets, serving the long-term interests of unit holders. The fund’s diversified portfolio currently comprises 21 properties, spanning various sectors including retail, education, commercial offices, logistics, and healthcare. Recent activities include strategic acquisitions in Jeddah and Riyadh during 2023 and the signing of a new lease agreement in Q3 2025, significantly boosting rental income for a property. The fund reported strong financial performance in H1 2024, with net profit and funds from operations showing substantial increases, driven by improved rental revenues.