Subscriptions to Alinma Makkah Fund top SAR 13 bln

Alinma Makkah Real Estate Fund has attracted subscriptions worth SAR 13.5 billion, fund manager Alinma Investment Co. said.

The size of the closed Islamic income-generating real estate fund is SAR 6.09 bln and was open for subscription from Sept. 18 to Oct. 17.

The fund manager will announce the allotment date within 15 days as of Oct. 17.

"Alinma Real Estate Fund is the largest real estate fund offered in terms of size. The fund's coverage reflects the investors’ trust in the Saudi stock market and the reputation of Alinma Investment, the fund manager, as well as Jabal Omar Project in Makkah," Alinma Investment CEO, Saleh Al-Henaki, said.