Alistithmar AREIC Diversified REIT Fund
TTADAWUL:43506.31
SAR
-0.09
(-1.41%)
ISIN
SA1620523V54
Return %
Stock
S&P 500
1Y
-19.21
14.20
3Y
- -
81.12
5Y
- -
68.34
Capital Structure
SAR
•
in mil. unless spec.Working Capital
SAR
•
in mil. unless spec.Growth Rates
SAR
•
in mil. unless spec.Semi-annual Revenue
SAR
•
in mil. unless spec.Semi-annual Earnings Per Share
SAR
•
in mil. unless spec.Semi-annual Dividends Per Share
SAR
•
in mil. unless spec.Company Description
- CEO
- Khaled Abdul Aziz Al-Rayes
- Sector
- Finance
- Industry
- Real estate investment trusts
- Address
- P.O. Box 6888 Riyadh RY Saudi Arabia 11452
- IPO Date
- Sep 4, 2024
- Website
- alistithmarcapital.com
- Similar Companies
- Business
- Alistithmar AREIC Diversified REIT Fund (4350.SR) is a closed-ended, Sharia-compliant real estate investment traded fund that invests primarily in income-generating real estate assets within the Kingdom of Saudi Arabia, with a minimum of 75% of its assets allocated to developed properties producing periodic rental income; it secondarily invests in real estate development projects as deemed appropriate by the fund manager. The fund owns and operates a diversified portfolio of investment properties and hotels, including Galleria Mall (a commercial complex in Jubail Industrial City), The Roof (a commercial complex in Riyadh with hypermarket, cinemas, and stores), Corniche Plaza (a commercial complex in Dammam with showrooms and offices), Al-Mashael Warehouse (a warehouse with offices in south Riyadh), Saudi Ericsson Building (an office building in central Riyadh leased as a company headquarters), Citadines Hotel (a five-star hotel in Abha), and Somerset Hotel (a four-star hotel in Khobar); these assets are held under the custody of Preserving Real Estate Opportunities Company, a subsidiary of Alinma Investment Company, and many are mortgaged to secure a SAR 605 million Murabaha facility maturing in July 2030. The fund operates in two main segments—rental income from commercial and office properties, and hotel revenue—targeting corporate tenants, retailers, and hospitality guests across Saudi Arabia, with total assets valued at approximately SAR 1.24 billion at fair market value as of June 30, 2025. Established prior to its public listing and managed by Alistithmar Capital (a subsidiary of The Saudi Investment Bank, headquartered in Riyadh, Saudi Arabia), the fund commenced trading on the Saudi Exchange (Tadawul Main Market) on September 4, 2024, marking its initial public offering with 60.5 million units outstanding and total assets of SAR 1.21 billion. Geographically, all properties are located within key Saudi regions including Riyadh, Jubail, Dammam, Khobar, and Abha, serving domestic markets without international exposure to date. Recent developments include the declaration of its first dividend distribution of SAR 0.38 per unit (totaling SAR 22.99 million) for the period ended December 31, 2024, paid in May 2025, followed by a 3.7% cash dividend of SAR 0.37 per unit for the first half of 2025, reflecting its policy to distribute at least 90% of net profits semi-annually; the fund reported net income of SAR 2.16 million and Funds From Operations (FFO) of SAR 17.3 million for H1 2025. In September 2025, the fund appointed Fahad Adnan Almansour as a non-independent board member, enhancing governance amid its post-listing operations; no major acquisitions, partnerships, or new property launches were announced in the last 1-2 years, though the fund manager continues periodic impairment reviews showing no value declines as of mid-2025.