Description

Alkhabeer REIT is a Sharia-compliant, closed-end real estate investment fund available for public trading, established on December 16, 2018, under the legal framework of the Kingdom of Saudi Arabia. It operates under the oversight and regulations of Saudi Arabia's Capital Market Authority (CMA). The fund boasts an initial capital of SAR 664,423,860 and is designed for a substantial 99-year duration, commencing from its unit listing date on the Saudi Securities Exchange, Tadawul, where each unit was initially valued at SAR 10. Its primary investment goal is to generate consistent rental income and provide unitholders with periodic cash distributions, committing to disburse a minimum of 90 percent of its annual net profits. This objective is achieved by allocating at least 75 percent of its total assets (based on the latest audited financial statements) to income-producing real estate properties throughout Saudi Arabia, with the specific exclusion of Makkah and Medina. Alkhabeer Capital, a Saudi closed joint-stock company (Commercial Registration No. 4030177445) and a CMA-authorized entity (License No. 37,07074), serves as the Fund Manager. All investment and transaction activities strictly adhere to the guidelines set forth by the Sharia Board. The fund's assets underwent valuation by Intimaa Advanced Company and White Cubes Company, while Alinma Investment Company acts as its Custodian.