Mubasher: The initial public offering (IPO) of the Eskan Bank realty income trust (REIT) opened on Monday, according to a press release.

The IPO will be opened for two weeks, and will close on Tuesday 6 December 2016.

The BHD 14.4 million offering represents 72.9% of the trust’s total size of BHD 19.8 million.

This sharia-compliant offering is reserved for Bahraini and GCC nationals, and is open to individual and institutional applicants, the statement indicated.

It also has a target of 6.5% in net distributable income payable semi-annually, which exceeds the American REITs average return of 3.7%.