KSA Business: Sedco Capital REIT Fund offering surges 64pc to $479m – Gulf Digital News

KSA Business: Sedco Capital REIT Fund offering surges 64pc to $479m – Gulf Digital News

Sedco Capital, a global shariah-compliant and ethically led asset management and investment advisory firm, has announced that it has successfully completed the additional offering of Sedco Capital real estate investment traded (REIT) fund. 



Launched in 2018, the Sedco Capital REIT Fund is a closed-ended, shariah-compliant REIT, which aims to achieve periodic cash distribution for unitholders by investing in high quality income-generating real estate assets across various sectors, including hospitality, commercial, office, residential and education. Investments are mainly focused in the main Saudi cities of Jeddah, Riyadh, and Dammam.



Through this additional offering, Sedco Capital is increasing the fund’s total asset value by 64% to SR1.8 billion ($479 million) across in-kind and cash subscriptions and additional Shariah-compliant financing.

According to Sedco Capital, the Fund received 78,231 subscription requests from 227,192 individual and institutional investors. In addition, it offered up to SR325 million through in-kind subscriptions. 

The successful offering resulted in a 339% oversubscription with a total value of SR 848 million. 

The units will be allocated to the unitholders within a maximum of 15 business days from the closing date of the additional offering period in accordance with the allocation mechanism disclosed in the supplementary appendix of