Riyadh – Mubasher: Saudi Arabia-based Osool and Bakheet Investment Company on Tuesday said that the subscription of Al Maather Real Estate Investment Traded Fund (Al Maather REIT) was closed at a coverage ratio of 1520%.

Investors and companies participated with about SAR 2.8 billion in the REIT's initial public offering (IPO) in line with the fund’s terms and conditions, while the offered units amounted to SAR 184.11 million, according to the investment company’s statement.

Al Maather REIT’s total value is SAR 613.7 million, while the price per unit is SAR 10.