Bonyan REIT Fund aims to invest in 10 real estate assets inside and outside the Kingdom at a total value of SAR 1.6 billion.
The fund's asset base will include ten properties: four shopping malls, three hotels, two residential compounds and one apartment building in both Saudi Arabia and Dubai.
The fund size amounts to SAR 1.62 billion. It will offer 65.15 million units at SAR 10 per unit, accounting for 40 percent of its total units. The minimum subscription is SAR 1,000.
Bonyan REIT Fund’s average projected net yield is 7.8 percent annually over a four-year period, growing from 7.3 percent in 2018 to 8.2 percent by 2021.
The Sharia-compliant fund is targeting annual rents of SAR 127.8 million this year.
Its initial public offering (IPO) on the Saudi Stock Exchange (Tadawul) began on April 15 and will run until May 3.
|
Bonyan REIT asset base |
|
|
Total no. of assets |
10 real estate assets |
|
No. of properties to be acquired (ownership) |
9 real estate assets |
|
No. of assets to be acquired (usufruct right) |
1 property, and the fund will have the right to buy the property during the first five years of signing the contract at SAR 110 million |
|
Developed assets |
10 real estate properties |
|
Total cost |
SAR 1,604.74 million |
|
Funds to be raised |
SAR 651.52 million |
|
Fund size |
SAR 1,628.81 million |
|
Geographical presence |
Saudi Arabia (Riyadh, Abha, Jazan, Almadinah) UAE (Dubai) |
|
Total rent in 2018 |
SAR 127.8 million |
|
Net income for 2018 |
SAR 118.2 million |
|
Net income ratio |
7.26 percent |
|
Bonyan REIT’s asset base |
|||||
|
Asset |
City |
Value (SAR mnl) |
40% of asset value |
Net annual rent 2018 *(SAR mln) |
Percentage of the fund size |
|
Residential sector |
|||||
|
Ar Rafiah Villa compound |
Riyadh |
190.0 |
-- |
14.92 |
11.66% |
|
Al-Maather Villa Compound |
Riyadh |
5.50 |
-- |
0.54 |
0.34% |
|
City Walk building (2B) |
Dubai |
273.00 |
-- |
10.25 |
16.76% |
|
Hotels |
|||||
|
Courtyard by Marriot |
Jizan |
90.0 |
-- |
6.31 |
5.52% |
|
Residence Inn by Marriot |
Jizan |
55.50 |
-- |
4.00 |
3.41% |
|
Al Rashed Residences |
Al Madinah |
42.60 |
28.40 |
7.08 |
2.62% |
|
Commercial centers |
|||||
|
Al Rashid Mall |
Jizan |
206.00 |
-- |
15.65 |
12.65% |
|
Al Rashid Mega Mall |
Al Madinh |
505.50 |
-- |
32.82 |
31.03% |
|
Al Rashid Mall** |
Abha |
223.20 |
148.80 |
34.58 |
13.70% |
|
Al Rashid Strip mall |
Riyadh |
13.44 |
8.96 |
1.64*** |
0.83% |
|
Total |
|
1604.74 |
186.16 |
127.79 |
98.5% |
|
Capital restructuring fees |
|
24.07 |
|
|
1.5% |
|
The fund’s total size |
|
1628.81 |
|
|
100% |
*Estimated figures calculated by an independent advisor 
** Usufruct right
***No contracts currently inked; however, figures were calculated by an independent advisor
Comments {{getCommentCount()}}
Be the first to comment
رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}
{{comment.DisplayName}}
{{comment.ElapsedTime}}