Alkhabeer Capital Announces the Commencement of the Subscription Period for the Second Additional Offering of Alkhabeer REIT Fund

Alkhabeer Capital, the asset manager specializing in Shari'a compliant investments and financial services, announced today the commencement of the subscription period for the second additional offering of Alkhabeer REIT Fund, a publicly offered closed-ended Shari’a-compliant real estate investment traded fund. The subscription period will extend for 15 working days, from 30 May 2021 corresponding to 18 Shawwal 1442 until 17 June 2021 corresponding to 7 Dhu Al-Qadah 1442.

The second additional offering aims to increase the total assets of the fund by 19%, from SAR 1.73 billion to SAR 2.06 billion, by offering 38,037,835 additional units of which 15,736,500 units will be available for public subscription. The additional shares are priced at SAR 9.03, inclusive of subscriptions fees and value added tax. Subscription for the additional units of Alkhabeer REIT Fund is open for Saudi locals, foreign residents and qualified institutions through the appointed receiving banks, including Al Jazira Capital, Al Rajhi Bank and Saudi National Bank; and will be available to clients of other banks through the subscription system on the website of Alkhabeer Capital, The Fund Manager.

This decision is in line with the long-term strategy of the Fund, which is focused on achieving stable cash flows for investors by investing in income-generating assets. The second additional offering will enhance the attractiveness of the investment opportunities provided by Alkhabeer REIT Fund, through diversifying its asset base and the sectors it targets. Proceeds from the second additional offering will be used to acquire educational and industrial assets, including Vision Colleges for Education and Akon warehouses in Jeddah. This will bring the total number of assets to 12 properties.

For further information about the second additional offering of Alkhabeer REIT Fund and to obtain a copy of the Terms and Conditions, please visit the official website of Alkhabeer Capital www.alkhabeer.com.

Alkhabeer REIT is a Sharia-compliant, closed-ended publicly traded real estate investment fund. It was listed on the “Tadawul” on 20 March 2019 corresponding to 13 Rajab 1440. The Fund’s real estate portfolio includes assets diversified across the retail and industrial sectors, as well as in offices, residential and educational properties, located in strategic locations in Jeddah, Riyadh and Tabuk. The first additional offering of Alkhabeer REIT in 2020 was completed successfully, which recorded 104% oversubscription and saw its assets under management (AUM) increase by 70% to more than SAR 1.7 billion.

Alkhabeer Capital, headquartered in the Kingdom of Saudi Arabia, specializes in Shari'a compliant investments and financial services. It is authorized by the Capital Market Authority (CMA), license number 07074-37.