CMA approves prospectus of Oman Real Estate Fund at OMR26 million

CMA approves prospectus of Oman Real Estate Fund at OMR26 million

Muscat: The Capital Market Authority (CMA) has approved the prospectus of Oman REIT Fund under the Regulation for Real Estate Investment Funds and as part of economic diversification initiative Tanfeedh.The fund will offer 261 million units for the public subscription which represents 40 per cent of the total capital of the fund at OMR65 million with the potential of increasing the percentage to 60 per cent as per the prospectus.The prospectus indicates the issue price of the unit is 102 Baisas comprising 100 Baisas as unit value plus 2 Baisas issue expenses. The units will be offered from January 17 to 31, 2021.The properties portfolio of the offered units comprises 20 properties including residential, commercial, retail shops and logistics services all over the Sultanate. The prospectus states that the assets converted into investment units are income generating.Real estate funds provide options for investors to invest in real estate and own investment units in addition to allowing the foreign investor to own investment units in the fund to attract foreign capital.