Derayah REIT units added to investor accounts

Derayah REIT Fund’s units have been added to investor accounts, the Securities Depository Center Co. (Edaa) said in a statement to the Saudi Stock Exchange (Tadawul) on Sunday.

Last month, the REIT's initial public offering (IPO) was 125 percent oversubscribed, raising up to SAR 451 million.

With a fund size of SAR 1.17 billion, it represents 15 properties in Riyadh, Jeddah, Dammam, Khobar, Jubail, and Al-Ahsa, covering asset classes such as offices, residential units, warehouses, hotels, and retail units.

The fund plans to distribute 90 percent of its profit semi-annually, with expected net returns of 7.22 percent over the next year.