MEFIC REIT Fund is a Shariah-compliant Saudi closed real estate investment traded fund. It was launched in March 2018. It is managed by the Middle East Financial Investment Company (MEFIC Capital) and is headquartered in Riyadh. MEFIC REIT Fund is one of the largest real estate investment traded funds in the Kingdom of Saudi Arabia. It invests in eight properties in Saudi Arabia's most important cities.
It was listed on the Saudi Exchange (Saudi Tadawul) in November 2018, under number 4346 and the name "MEFIC REIT," ISIN (SA14I0523T54), within the traded real estate funds sector. The fund has a share capital of SAR732.77 million. The fund's units are available for Saudi citizens and the citizens of the Gulf Cooperation Council, as well as to foreigners residing in Saudi Arabia or abroad.
Components of the fund
MEFIC REIT Fund consists of an investment portfolio encompassing seven properties located in Riyadh, Jeddah, and Makkah al-Mukarramah in Saudi Arabia. It also includes a property in the city of Dubai, in the United Arab Emirates. These assets are diversified between various real estate sector, including the residential, commercial, office, and hotel sectors.
MEFIC REIT Fund seeks to offer periodic income to investors upon investing in cash-generating real estate assets in Saudi Arabia and the countries of the Arabian Gulf.
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