MEFIC REIT is a shariah-compliant close-ended traded real estate investment fund listed on the Saudi Capital Market (Tadawul). It is one of the largest listed REITs in Tadawul, with a fund size of SAR 1.23 billion distributed over 123 million units. The portfolio consists of 8 properties, including properties in the residential, retail, office, and hospitality sectors, located in three main cities in Saudi Arabia (Riyadh, Jeddah, and Makkah), as well as Dubai in the United Arab Emirates. Six out of the eight properties are leased through binding guaranteed triple net lease contracts to master tenants for 4 years, reducing operational and rent collection risks. MEFIC REIT is the only listed REIT in Saudi Arabia that provides a committed minimum return to its subscribers. It is one of the most geographically diversified REITs, covering multiple sectors. MEFIC REIT aims to generate income by acquiring recurring income-generating real estate assets in Saudi Arabia and the GCC. Additionally, it provides a minimum threshold return of 5%. If the return falls below this threshold, MEFIC Capital (the REIT's manager) commits to infusing up to 2% to maintain the return at 5% for 8 years.
Please wait...
