Alinma Makkah Fund declares cash dividend for 6 months

Alinma Makkah Real Estate Fund’s board of directors has declared a cash dividend of SAR 0.4 per unit for its first six months of operations, amounting to a total of SAR 243.6 million.

The record date of the cash dividend will be on May 9, 2018.

Alinma Makkah Real Estate Fund aims to generate income through the acquisition of developed and income-generating properties within the first phase of the Jabal Omar development project.

The fund’s IPO took place last year from Sept. 18 until Oct. 17, with 609 million units were sold at SAR 10 per unit. The fund started operations on Nov. 9, 2017.