Alinma Retail REIT Fund

Alinma Retail REIT Fund is a closed-end public real estate investment trust (REIT) and one of the arms of Alinma Investment Company, headquartered in Riyadh. The fund operates in the real estate sector and is listed on the Saudi Stock Exchange 'Tadawul' under the name Alinma Retail REIT. It falls under the primary sector of real estate and the sub-sector of traded REITs. The fund complies with Islamic Shariah regulations.

The Capital Market Authority (CMA) of the Kingdom of Saudi Arabia approved the establishment of this fund and the public offering of its units on December 28, 2017. The fund's terms and conditions were issued on March 7, 2018, and were later updated on June 19, 2023.

The "Alinma Retail REIT Fund" aims to invest in real estate assets within Saudi Arabia that can generate periodic rental income. The fund distributes at least 90 percent of its net annual profits. Additionally, the fund invests a portion of its assets in real estate development projects, provided that no less than 75 percent of the total assets invested in developed real estate assets that generate regular income, as per the latest audited financial statements, and that the fund does not invest in undeveloped land.

The fund's initial portfolio includes al-Makan Mall in Riyadh City, al-Makan Mall in Hafr al-Batin, al-Makan Mall in ad-Dawadimi, and al-Makan Mall in Tabuk.

Alinma Investment Company, the fund's owner, is a closed joint-stock Saudi company owned by Alinma Bank. It offers a range of investment products and services compatible with Sharia provisions and controls in telecommunications and advanced technology systems. Alinma Investment obtained a license from the CMA‏ in 2009 and began operations in 2010. Its activities include dealing, custody, and investment management, including managing and operating funds, arranging, and providing advisory services in securities.