Saudi Arabia's Alkhabeer REIT Fund IPO close successful

JEDDAH —  Alkhabeer Capital, a prominent asset management company specializing in alternative investments, has announced the successful closing of the initial public offering of its newly-launched Alkhabeer REIT Fund. The Fund was oversubscribed at 104% and raised over SR247 million, from 25,124 individual and institutional subscribers participating in the IPO.

Ahmed Saud Ghouth, Chief Executive Officer of Alkhabeer Capital, said: «We are delighted at the successful response to our IPO, which makes the Alkhabeer REIT Fund another milestone on our journey of continuous success, and I would like to express our thanks and appreciation to our clients for their trust and assure them we will strive to achieve the investment objectives of the Fund in their best interest and by meeting their expectations.”

Information about the units’ allocation and the refund of excess funds will be announced to investors within 10 business days from the IPO closing date.

The Fund invests in seven income generating real estate assets at prime locations in Riyadh, Jeddah and Tabuk.

Alkhabeer Capital, headquartered in the Kingdom of Saudi Arabia, specializes in alternative investments and investment services. — SG