Jabal Real Estate Investment Fund, a firm with a capital portfolio of RO 17.4 million and a focus on real estate assets, has been listed on the Muscat Stock Exchange (MSX).
The listing followed a successful initial public offering (IPO) at the MSX Hall on July 10, 2024. The fund offered 174 million units, each valued at 100 baisas. The subscription period for the Fund ran from June 13 to June 27, 2024, and saw high interest from investors, exceeding the minimum target capital on the very first day.
The fund has been established as a closed-ended fund under REIF regulations. It aims to invest in a variety of high-quality, income-generating commercial properties. The fund’s first two anchor assets include an office building and a warehousing complex, both boasting over 90% occupancy rates.
Majid al Lawati, a member of the Fund Management Body, commented, “We are pleased with the successful IPO of Jabal REIF. The Fund garnered substantial interest and was oversubscribed shortly after the subscription commenced. It offers investors an attractive long-term return and potential asset appreciation.”
The fund targets a long-term total return for investors that exceeds both inflation and deposit rates, with quarterly dividend distributions.
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