Al Mashaar REIT offering ends today

Al Masha’ar Real Estate Investment Traded Fund’s (Al Mashaar REIT) offering that started on Nov. 1 will end today, Tuesday Nov. 7.

Al Masha’ar REIT, a sharia compliant fund, amounts to SAR 572.4 million.

The total of 57.24 million units was offered at SAR 10 per unit, with the minimum subscription limit of SAR 10,000 and the maximum of SAR 28.6 million.

The fund was offered to qualified investors as specified by the Capital Market Authority (CMA).

Indicators for Al Masha'ar REIT’s IPO are “positive and encouraging”, Khalifa Abdullah Al Hatmi, chief executive of Muscat Capital, has told Argaam in an exclusive interview on Sunday.

On Oct. 16, the CMA has approved Muscat Capital’s request to offer, register and list units of Al Masha’ar REIT on the Saudi Stock Exchange (Tadawul).

Al Masha’ar REIT is the eight real estate traded fund listed on Tadawul so far, and the second in Makkah and Madinah.