‎Alinma REIT Hotel Fund debuts on Tadawul today

‎Alinma REIT Hotel Fund debuts on Tadawul today

Alinma REIT Hotel Fund will be listed on Tadawul's main market today, Jan. 30, with the symbol 4349 and ISIN code SA15L0523UH6, at a price of SAR 10 per unit.

The Capital Market Authority (CMA) approved in September the request received from Alinma Investment Co., the fund manager, to offer and register units of Alinma REIT Hotel Fund in the market as publicly traded units of a real estate investment fund.

Subscription to the fund units took place during the period from Oct. 30 to Nov. 7, 2022. A minimum of 50 units were allocated to each subscriber, while the remaining shares were allocated on a pro rata basis.

The number of subscribers reached 184,600, while the total subscribed amounts (excluding the subscription of the fund manager) amounted to SAR 560.9 million.

The fund's investment objective is to achieve continuous and growable cash dividends for unit holders and to develop the fund’s assets through direct investment in structurally developed and income-generating real estate.

The fund intends to focus heavily on the hotel, hospitality and tourism accommodation sector in its investments. The fund may invest partially in real estate development projects, provided that the fund assets invested in income-generating assets are not less than 75%.

The fund