In November 2016, Saudi Stock Exchange (Tadawul) authorized the listing and trading of real estate investment traded funds (REITs) on local stock market. Since then, eight funds were listed and started trading, and seven initiated listing procedure, but have not started trading yet.
Al Rajhi REIT topped listed funds by assets under management (AUM) at SAR 1.62 billion, followed by Jadwa REIT Saudi with an asset worth of SAR 1.58 billion.
The following table lists all 15 REITs by asset size and listing status:
|
REITs arranged by Asset Size |
|||
|
Order |
REIT |
Listing date |
Fund Size (SAR mln) |
|
1 |
Al Rajhi REIT |
Open for subscription |
1621.9 |
|
2 |
Jadwa REIT Saudi |
Open for subscription |
1580.0 |
|
3 |
Al Ahli REIT (1) |
Jan. 8, 2018 |
1375.0 |
|
4 |
Derayah REIT |
Subscription Closed |
1172.0 |
|
5 |
Wasatah REIT |
Not listed yet |
1080.0 |
|
6 |
Musharaka REIT |
Oct. 2, 2017 |
880.0 |
|
7 |
AlNefaie – Umm Alqura REIT Fund |
Not listed yet |
692.0 |
|
8 |
Mulkia REIT |
Nov. 5, 2017 |
677.0* |
|
9 |
Jadwa REIT AlHaramain |
April 30, 2017 |
660.0 |
|
10 |
SEDCO Capital REIT |
Not listed yet |
650.0 |
|
11 |
AlMa'athar REIT |
Aug. 22, 2017 |
613.7 |
|
12 |
Al Masha’ar REIT |
Not listed yet |
572.4 |
|
13 |
Riyadh REIT |
Nov. 13, 2016 |
500.0 |
|
14 |
Taleem REIT |
May 30, 2017 |
285.0 |
|
15 |
AlJazira Mawten REIT |
Feb. 15, 2017 |
118.0 |
*Acquired a property on Jan. 8 thereby increasing fund size to SAR 677 million from SAR 600 million.
N.B: Swicorp Wabel REIT was not included for lack of information.
Constituent assets of the 15 REITs announced and listed, span 81 fully-developed properties, two usufructs, and three real estate projects under development. The following table lists REITs by property segment and number of assets held by each:
|
REIT by number of properties held |
|||
|
Order |
REIT |
Property Segment |
Number of Assets |
|
1 |
Al Rajhi REIT |
Commercial, offices, educational,, warehouses |
13 fully developed and owned properties |
|
2 |
Derayah REIT |
Residential, offices, stores, warehouses and hospitality |
12 fully developed and owned |
|
3 |
AlMa'athar REIT |
Office, warehouses, residential, stores |
11 fully developed and owned |
|
4 |
SEDCO Capital REIT |
Hotels, commercial, offices, residential |
7 fully developed and owned |
|
5 |
Riyadh REIT |
Offices, hospitality and hotels, stores |
6 fully developed and owned 1 under development |
|
6 |
Mulkia REIT |
Residential, industrial, offices,stores |
4 fully developed and owned 1 fully developed, 76% owned * |
|
7 |
Musharaka REIT |
Residential, warehouses, hospitality and hotels |
5 fully developed and owned |
|
8 |
Jadwa REIT Saudi |
Residential, commercial, warehpuses, educational |
5 fully developed and owned |
|
9 |
AlNefaie – Umm Alqura REIT Fund |
Hotels, commercial |
4 fully developed and owned |
|
10 |
Al Masha’ar REIT |
Hospitality and hotels, stores |
3 fully developed and owned |
|
11 |
Wasatah REIT |
Hotels |
2 fully developed and owned |
|
12 |
Jadwa Reit AlHaramain Fund |
Hospitality and hotels, stores |
4 fully developed and owned *** |
|
13 |
Al-Ahli REIT (1) |
Hospitality and hotels, stores |
2 fully developed and owned |
|
14 |
AlJazira Mawten REIT |
Warehouses |
1 fully developed and owned (Contains 6 warehouses) |
|
15 |
Taleem REIT |
Educational |
1 fully developed and owned |
* Acquired 76% of a property in Riyadh post listing. 
** Acquired a property in Riyadh post listing.
*** acquired two properties in Makkah post listing.
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