Riyadh – Mubasher: The Saudi Stock Exchange (Tadawul) said that listing and trading on units of Alrajhi Real Estate Investment Traded Fund (Alrajhi REIT Fund) will start as of Tuesday, 20 March, with the symbol 4340, and with 10% daily price fluctuation limit per unit.

The fund will be listed under the real estate investment traded funds (REITs) sector, the Saudi bourse said in a statement.

The fund aims to invest in developed real estates which generate rental income, the statement added.

“REITs are accessible to all investor segments to buy and sell REITs units in the same method currently used for equities,” according to the statement.

Al Rajhi Capital previously stated closing the initial public offering (IPO) of Alrajhi REIT Fund with 174% coverage ratio.

In January 2018, Al Rajhi Capital said that Alrajhi REIT Fund is considered the largest offered REIT fund in Saudi Arabia.

The fund’s volume amounted to SAR 1.620 billion, with 42.7 million units which were offered, at SAR 10 per unit, at a total value of SAR 427 million.