Derayah REIT comprises 15 realty assets worth SAR 1.172 bln

Derayah REIT said its asset base comprises 15 real estate assets worth SAR 1.172 billion.

The REIT is being floated on initial public offering (IPO) in Saudi stock market till Jan. 7, 2018.

Its assets include offices, residential units, warehouses, hotels and retail space, geographically dispersed across Riyadh, Dammam, Jeddah, Khobar, Jubail and Al-Ahsa, the listing memo showed.

Summary of REIT’s Assets
Description	Number/value
Total no. of properties & usufruct panned to be acquired	15
No. of income generating properties	14
No. of usufruct properties	2
No. of properties underdevelopment	1
Total value of REIT’s assets	1,086.40
Total building areas (m²)	235,443

The fund's assets will be assessed twice a year, by accredited assessors from Saudi Authority for Accredited Valuers (Taqeem).

Properties To Be Acquired (SAR mln)
Property name	City	Purchase price	Average valuation	Sector
Smart Towers	Riyadh	263.50	264.03	Office & Retail
Al Jubail Views residential compound	Al Jubail	145.50	152.80	Residential
Al Mina warehouses complex	Dammam	130.00	129.00	Warehouses
City Life Plaza	Riyadh	106.25	109.68	Retail
Motoon Towers	Riyadh	98.00	100.86	Retail & Hotel
Al Fanar commercial Complex	Al Khobar	60.60	64.59	Show rooms & warehouses
The Grand (A) residential compound	Dammam	58.80	64.52	residential
Al Wadi Warehouses	Jeddah	58.00	57.55	Warehouses & residential
Al Seteen Trade Center	Riyadh	52.13	53.81	Office & commercial
The Valley	Al Ahsa	39.50	40.00	Commercial
The Grand (B) Commercial Compex	Dammam	31.25	31.94	Office
Workers’ residence buildings	Al Jubail	24.27	27.52	Residential
City Walk Compound	Riyadh	10.50	11.10	Retail
Workers’ residence buildings	Dammam	5.09	6.17	Residential
Workers’ residence building	Al Khobar	3.01	3.59	Residential
Total		1,086.40	1,117.15

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