CMA approves the prospectus for a $173 million REIT 

0
214

هذه الصفحة متوفرة بهذه اللغة: العربية

22 December 2020

MUSCAT (WAF)- Oman’s Capital Market Authority (CMA) has approved the prospectus for “Oman Real Estate Fund”, the country’s second real estate investment trust/fund (REIT/REIF) with a capital of RO66.7 million ($173 million).

A press statement by CMA said that the new REIT will offer 261 million units for 102 Baisas “comprising 100 Baisas as unit value plus 2 Baisas issue expenses,” CMA stated citing the approved prospectus.

Be Part of The News

The units will be available for subscription between 17-31 January 2021. “Oman Real Estate Fund” will be selling 40% of the units with a value of RO26 million ($67.6 million) “with the potential of increasing the percentage to 60% as per the prospectus.”

Oman Real Estate Fund is the second REIT in the country, following AMAN Real Estate Investment Fund which offered units worth RO10 million ($26 million), out of the RO20 million capital, for subscription in January 2020.

Unlike AMAN fund, which was offered with a portfolio comprised of a single project (Sandan Industrial City), Oman Real Estate Fund offers a portfolio “comprises 20 properties including residential, commercial, retail shops and logistics services all over the Sultanate.”