New REIT to offer guaranteed returns until 2021

01/04/2018 Argaam

 

Saudi Arabia’s Capital Market Authority (CMA) approved on March 26, the listing of the units of MEFIC REIT on Saudi stock market.

 

The sharia-compliant real estate investment fund plans to distribute a net return of 7.5 percent in 2018 that rises gradually to 7.9 percent in 2021, while offering a guarantee that annual returns cannot fall below five percent in any given year, until 2021.

 

Subscriptions to the fund will start on April 4, and remain open for 20 working days.

 

The fund encompasses a wide-range of geographically-dispersed properties based in Riyadh, Makkah, Jeddah and Dubai.

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