Derayah REIT to offer 7.5% annual returns, says CEO

07/12/2017 Argaam

 

Derayah REIT, which recently obtained the Saudi Capital Market Authority’s approval to list and trade on the Saudi Stock Exchange (Tadawul), is a SAR 1.2 billion fund with net annual returns of 7.5 percent, said Derayah Financial CEO Mohammed Al Shammasi.

 

Net returns are expected to grow to 10 percent in the future, he added, speaking to CNBC Arabia.

 

The fund covers all real estate segments, including housing, offices, warehouses, and hotels, with a maximum size of 20 percent per segment, Al Shammasi said.

 

Derayah REIT plans to acquire 15 assets in the cities of Riyadh, Dammam, Jeddah, Jubail, Al Ahsa, and Al Khobar.

 

The fund is also considering acquiring some assets after listing, and is also evaluating some financing opportunities, the CEO added.

 

The CMA on Wednesday appproved Derayah Financial’s request to offer, register and list units of the Derayah REIT on Tadawul.

Comments {{getCommentCount()}}

Be the first to comment

{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
{{comment.Replies.length}}
تعديل
loader Train
Report
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.