Jadwa REIT Saudi comprises 5 assets worth SAR 1.55 bln

Jadwa REIT Saudi Fund’s (Jadwa REIT Saudi) said its asset base comprises five real estate assets worth SAR 1.55 billion, located in Riyadh, Dammam and Al-Khobar.

The REIT is being floated on initial public offering (IPO) in Saudi stock market and subscription is open till Jan. 23. The fund targets a net return of 7.3 percent annually.

The fund's assets include offices, residential units, warehouses, hotels and retail space, the listing memo showed.

Property Description
Description	Location	Segment	Space (000’ m²)	Building area (000’ m²)	Leasing Term
Marvela residential compound	Riyadh	Residential - Commercial	73.2	158.7	5
Al Maarefa College	Riyadh	Educational	18.1	41.8	20
Al Solay Warehouse	Riyadh	Warehouses, offices, shops	218.9	143.4	5
Al Yaum newspaper tower	Dammam	Commercial, offices	4.8	39.2	7
Al Fanar Compound	Al Khobar	Residential, Commercial	62.5	45.0	8 for residential, 5 for commercial

The fund's assets will be assessed semiannually, by accredited assessors from Saudi Authority for Accredited Valuers (Taqeem). Initial valuation was conducted by ValuStrat and White Cubes Co.

Asset Valuation
Property	ValuStrat	White Cubes	Average	Purchase price	Asset purchase price – average valuation (%)
Marvela residential compound	645.2	645.0	645.1	606.0	(6.1%)
Al Maarefa College	220.7	228.5	224.6	200.0	(11.0%)
Al Solay Warehouse	235.3	276.0	255.7	221.7	(13.3%)
Al Youm newspaper tower	288.9	318.0	303.5	275.0	(9.4%)
Al Fanar residential & Commercial Compound	259.7	268.3	264.0	243.9	(7.6%)
Total	1,649.8	1,735.8	1,692.8	1,546.6	(8.6%)

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