20/03/2023
Announcement by Al-Rajhi Capital regarding an update of the terms and conditions of Al-Rajhi REIT Fun
Al-Rajhi Capital announces an update of the terms and conditions of Al-Rajhi REIT Fund, as of 07/09/1445H corresponding to 17/03/2024G. A summary of the main updated items are as follows:
Which is reflecting the non-fundamental changes announced on 21/2/2024. To View the updated terms and conditions.
Click Here
21/02/2024
Announcement by Al Rajhi Capital regarding the details of non- fundamental changes to Al Rajhi REIT Fund
Al Rajhi Capital announces the approval of the Fund’s Board of Directors of a non-fundamental change to Al Rajhi REIT fund;
Such change will become effective on 07/09/1445H corresponding to 17/03/2024 G
The details of the non-fundamental change are updating the follows:
Appointing Sustainable Property Company instead of Madad Al Khair Real Estate Office to manage both Al Anwar Plaza and Rama Plaza properties.
This appointment will result in reducing property management fees from 8% to 7.5% of the collected rent
31/01/2024
Announcement by Al Rajhi Capital regarding the distributions of fund’s dividends to the unitholders of Al Rajhi REIT Fund
Al Rajhi Capital announces the distribution of cash dividends to the unitholders of Al Rajhi REIT Fund for the period 1st October 2023 to 31st December 2023 as follows:
- Earnings accrual period is the 4th Quarter of the year 2023G.
- Total distributed dividends 38,585,049.72 SAR
- Cash distributions shall be based on 275,607,498 units
- The amounts of dividends distributed is 0.14 SAR per unit
- The distribution ratio is 3.07% of the net asset value as on 30/06/2023G corresponding to 12/12/1444H
- Cash distribution entitlements to unitholders shall be based on the unitholder register on the end of 12/02/2024G corresponding to 02/08/1445H
- Dividends will be paid in 29/02/2024G corresponding to 19/08/1445H
General clarifications:
Net Asset Value based on Fair Value as of 30/06/2023G corresponding to 12/12/1444H
Eligibility of dividends shall be for unitholders in the register per Tadawul records as of 02/08/1445H corresponding to Monday 12th February, 2024 (end of trading day on 27/07/1445H corresponding to Thursday 8th February, 2024)
Dividend per Unit = SAR 0.14; dividend represents 1.4% of the Par value
The Fund Manager would like to remind the unitholders to update their information with Capital Market Institution, where their accounts are being held, to ensure the direct deposit of their due distributions
14/01/2024
Announcement by Al Rajhi Capital the availability of the quarterly statement of Al Rajhi REIT Fund for the period ending on 31st December 2023
Al Rajhi Capital announces that the quarterly statement of Al Rajhi REIT Fund for the period ending on 31st December 2023.
10/01/2024
Announcement by Al Rajhi Capital for the availability of the
semiannual reports of the assets of Al Rajhi REIT Fund for the period ending on 31st
December 2023.
Al Rajhi Capital announces that semiannual evaluation
reports of the assets of Al Rajhi REIT Fund for the period ending on 31st December 2023.,
prepared by accredited valuers, Knight Frank and Barcode are available, according to the
policy of Fund Asset Evaluation stated in the Terms and Conditions
A copy of the reports can be found in the
below links:
06/11/2023
Announcement by Al Rajhi Capital regarding the
distributions of fund’s dividends to the unitholders of Al Rajhi REIT Fund
Al Rajhi Capital announces the distribution of cash
dividends to the unitholders of Al Rajhi REIT Fund for the period 1st July
2023 to 30th September 2023 as follows:
- Earnings accrual period is the 3nd Quarter of the year 2023G.
- Total distributed dividends 35,828,974.74 SAR
- Cash distributions shall be based on 275,607,498 units
- The amounts of dividends distributed is 0.13 SAR per unit
- The distribution ratio is 2.85% of the net asset value as on
2023/06/30 Corresponding to 1444/12/12
- Cash distribution entitlements to unitholders shall be based on the
unitholder register on the end of 2023/11/20 Corresponding to 1445/05/06
- Dividends will be paid in 14 December 2023
General clarifications:
Net Asset Value based on Fair Value as of
2023-06-30 Corresponding to
1444-12-12
Eligibility of dividends shall be for unitholders in the register per Tadawul
records as of 06/05/1445H
corresponding to Monday, 20/11/2023 (end of trading
day on 02/05/1445H corresponding to Thursday
16/11/2023)
Dividend per Unit = SAR 0.13; dividend represents
1.3% of the Par value
The Fund Manager would like to remind the unitholders to update their
information with Capital Market Institution, where their accounts are
being held, to ensure the direct deposit of their due distributions.
05/11/2023
Announcement by Al-Rajhi Capital regarding an update
of the terms and conditions of Al-Rajhi REIT Fund
Al-Rajhi Capital announces an update of the terms and
conditions of Al-Rajhi REIT Fund, as of 21/04/1445H
corresponding to 05/11/2023G. A summary of the main updated
items are as follows:
- Updating the zakat clause in the terms and conditions of the Fund for the
purpose of filing the fund’s zakat declaration. Implementing the
rules for collecting zakat from investors in investment funds.
- Updating the Fund’s terms and conditions to reflect a change in the
Fund’s Board of Directors after announcing the resignation of Mr.
Tariq Al-Suqair - a Non-Independent Fund Board Member.
- A general update on the experiences of the Fund’s Board Members and
management team.
The updated terms and conditions can be found
Click Here
22/10/2023
Announcement by Al Rajhi Capital regarding the details of
non- fundamental changes to Al Rajhi REIT Fund
Al Rajhi Capital announces the approval of the Fund’s
Board of Directors of a non-fundamental change to Al Rajhi REIT fund;
Such change will become effective on 21/04/1445H corresponding to 05/11/2023 G.
The details of the non-fundamental change are updating the
follows:
Updating the zakat clause in the terms and conditions of the Fund for the purpose of filing
the fund’s zakat declaration. Implementing the rules for collecting zakat from
investors in investment funds.
Updating the Fund’s terms and conditions to reflect a change in the Fund’s Board
of Directors after announcing the resignation of Mr. Tariq Al-Suqair - a Non-Independent
Fund Board Member.
sA general update on the experiences of the Fund’s Board Members and management team.
12/10/2023
Announcement by Al Rajhi Capital the availability of the
quarterly statement of Al Rajhi REIT Fund for the period ending on 30th September
2023
Al Rajhi Capital announces that the quarterly statement of
Al Rajhi REIT Fund for the period ending on 30th September 2023.
24/08/2023
Announcement by Al-Rajhi Capital regarding an update of
the terms and conditions of Al Rajhi REIT Fund
Al Rajhi Capital announces an update of the terms and
conditions of Al Rajhi REIT Fund, as of 08/02/1445H corresponding to 24/08/2023G. A
summary of the main updated items are as follows:
- Adding the Supplementary Annex No. (1) to the terms and conditions of Al Rajhi REIT
Fund
10/08/2023
Announcement by Al Rajhi Capital for providing the public
with the interim financial statements of Al Rajhi REIT Fund for the period ending on
30/06/2023
Al Rajhi Capital announces that the interim financial
statements of Al Rajhi REIT Fund for the period ending on 30/06/2023 are available to
the public. The following is the summary of the interim financial results of the
period:
- Net Asset Value at end of the period: SAR 1,186,858,074
- Total Fees & Expenses for the period: SAR (61,802,566)
- Net Profit (loss) for the period: SAR 4,007,797
- No. of outstanding Units at end of the period: 161,856,857 units
- Net Asset Value per Unit: SAR 7.75 (fair value)
- Revenue of the period: 2.7%
Notes related to Financials:
- Total Fees & Expenses include an amount in relation to profit on outstanding
loan Facility and depreciation expense of real estate investments
- Net Asset Value per Unit: SAR 7.75 (fair
value)
- Net Asset Value per Unit: SAR 7.33 (book
value)
- Revenue of the period is the percentage of dividend for the period from 1 Jan
2023to 30 June 2023at Par Value:
2.7%. Noting that the total
dividends for the period 1st Jan 2023 to 30th June
2023 equal to SAR 43,701,351.39
- Impairment on investment properties: SAR 19,127,891
09/08/2023
Al Rajhi Capital announces an addendum announcement regarding a
material development of Al Rajhi REIT Fund
Date of the previous announcement:
14/05/2023G Corresponding to 24/10/1444H.
Following the announcement for the Al Rajhi Capital
published on 24/10/1444 H, corresponding to 14/05/2023 G. The Fund Manager wishes to
clarify the completion of the regulatory requirements of transferring the title deeds of
the additional second offering (Riyadh Avenue and Henaki Business Center) to Al Rajhi
REIT Fund.
The resulted impact from the change: The
additional new units will be deposited post completing the regulatory
requirements
30/07/2023
Announcement by Al Rajhi Capital for the availability of the semiannual reports of the
assets of Al Rajhi REIT Fund for the period ending on 30th June 2023.
Al Rajhi Capital announces that semiannual evaluation reports of the assets of Al Rajhi
REIT Fund for the period ending on 30th June 2023.,
prepared by accredited valuers, Knight Frank and Barcode are available, according
to the policy of Fund Asset Evaluation stated in the Terms and Conditions
A copy of the reports can be found in the below links:
13/07/2023
Announcement by Al Rajhi Capital the availability of the quarterly
statement of Rajhi REIT Fund for the period ending on 30/06/2023
Al Rajhi Capital announces that the quarterly statement of Al Rajhi
REIT Fund for the period ending on 30/06/2023.. For more details,
please
Click
Here
02/07/2023
Announcement by Al Rajhi Capital regarding the distributions of fund’s
dividends to the unitholders of Al Rajhi REIT Fund
Al Rajhi Capital announces the distribution of cash dividends to the
unitholders of Al Rajhi REIT Fund for the period 1st April 2023 to
30th June 2023 as follows:
Earnings accrual period: 2nd Quarter of the year
2023G.
Total dividends distributed: SAR 19,422,822.84
The number of existing units on the basis of which cash
distributions will be made: 161,856,857 units
The amount of dividendsper
unit: SAR 0.12
Distribution Ratio of Net Asset Value (%): 1.44%
Distribution percentage of the net asset value as of the
date: 2022-12-31 Corresponding to 1444-06-07
The eligibility of the cash dividends for the unit holders,
according to the unit holders register at the end of the
day: 2023-07-09 Corresponding to 1444-12-21
Dividends will be paid within 20 business days post the eligibility
date.
General clarifications:
-
Net Asset Value based on Fair Value as of 2022-12-31 Corresponding
to 1444-06-07
-
Eligibility of dividends shall be for unitholders in the register
per Tadawul records as of 21/12/1444H corresponding to Sunday,
09/07/2023 (end of trading day on 17/12/1444H corresponding to
Wednesday 5/07/2023)
-
Dividend per Unit = SAR 0.12; dividend represents 1.2% of the Par
value
-
The Fund Manager would like to remind the unitholders to update
their information with Capital Market Institution, where their
accounts are being held, to ensure the direct deposit of their due
distributions.
05/06/2023
Announcement by Al Rajhi Capital regarding the results of the offering
in Increasing the total assets value of
Al Rajhi REIT Fund
Al Rajhi Capital, in its capacity as the Fund Manager of Al Rajhi REIT
Fund is pleased to announce the completion of the cash subscription
process in increasing the total value of the fund’s assets, through
the additional offering to investors with successfully achieving the
maximum limit, as the offering period ended on Tuesday 10/11/1444H
Corresponding to 30/05/2023G. The total value of subscription requests
reached to SAR (1,602,905,005.4), where the coverage percentage
reached (158.33%), the subscription witnessed the participation of
(299,690) individual and institutional investors with a total of
(146,703) requests
The allocation results of the additional offering to increase the
total asset value of the Fund was based on the allocation mechanism
announced in the supplementary annex to the terms and conditions of
the Fund, The subscribed units were allocated according to the
following tranches:
- The subscribed units were allocated in full for the registered
unitholders on the day of the unitholders’ meeting to vote on
approving the increase in the total value of the fund’s assets on
11/05/2023.
- The remaining additional subscribed units were allocated to the rest
of the unregistered individuals and institutional investors on the day
of the unitholders meeting, with an allocation rate of (46%) of the
total subscribed units.
We also inform you that the refund will be deposited by maximum
13/06/2023 G. The new units will also be listed after completing all
relevant procedures within a 60 working days from the end of the
offering period.
18/05/2023
Announcement by Al Rajhi Capital Regarding the availability of the
valuation reports of Al Rajhi REIT Fund’s prospective real estate
properties
Al Rajhi Capital announces that the availability of the valuation
reports of the intended assets to be acquired by Al Rajhi REIT Fund.
The reports are available in the following links:
- Riyadh Avenue:
- Henaki Business Center:
14/05/2023
Announcement by Al Rajhi Capital regarding the starting date of the
subscription in the increasing of the total value of Al Rajhi REIT
Fund assets
Al Rajhi Capital in its capacity as the Fund Manager of Al Rajhi REIT
Fund announces the starting date of the subscription in the increasing
of the total value of the Fund’s assets through an additional offering
starting from Wednesday 27 / 10 / 1444H corresponding to 17 / 05 /
2023G until Tuesday 10 / 11 / 1444H corresponding to 30 / 05 / 2023G
(ten business days). The price of subscription is 8.9 Saudi Riyals per
unit.
The subscription will be available through the following receiving
entities:
- Al Rajhi Bank
- Al Jazira Capital
- Arab National Bank
- Riyadh Bank
- Alinma Bank
- Banque Saudi Fransi
For more information, please check the allocation mechanism in the
supplementary annex of the terms and conditions by clicking
here
14/05/2023
Announcement by Al Rajhi Capital regarding an update of the
Supplementary Appendix to the Terms and Conditions for Increasing the
Total Asset Value of Al Rajhi REIT Fund
Al Rajhi Capital announces an update of the Supplementary Appendix to
the Terms and Conditions for Increasing the Total Asset Value of Al
Rajhi REIT Fund as of 24/10/1444H corresponding to 14/05/2023G. A
summary of the main updated items are as follows:
Date of Terms & Conditions: 24/10/1444H
corresponding to 14/05/2023G.
Updated items:
-
The (“subscription price”) for the additional units has been set at
(8.9) Saudi riyals per unit.
-
The start date for the subscription to increase the total value of
the assets of Al Rajhi REIT Fund has been determined, starting from
Wednesday 27 / 10 / 1444H corresponding to 17 / 05 / 2023G until
Tuesday 10 / 11 / 1444 H corresponding to 30 / 05 / 2023G (Ten
business days).
The updated Supplementary Appendix to the Terms and Conditions for
Increasing the Total Asset Value of Al Rajhi REIT Fund can be found
here
14/05/2023
Announcement by Al Rajhi Capital regarding the results of the meeting
of the unitholders of Al Rajhi REIT Fund
Al Rajhi Capital announces the results of Al Rajhi REIT Fund
unitholders’ meeting which was held virtually using modern technology
and Tadawulaty services at 6:00 p.m. on Thursday 21 / 10 / 1444H
corresponding to 11/ 05 / 2023G, as follows:
Date of Unit Holders Meeting2023-05-11 Corresponding
to 1444-10-21
The Result of the Meeting:
-
The approval to increase the total assets of the Fund & the
supplementary Appendix to the terms & conditions, through the
issuance of additional units (cash), provided that the increase in
the Fund capital is between (330,000,000) Saudi Riyals at the
minimum, and (1,012,380,710) Saudi Riyals at the maximum. This is to
complete the acquisition of the 2 Assets: (Riyadh Avenue – Riyadh,
Al-Henaki Business Center – Jeddah)
-
The approval to increase the limit cap of the remuneration of each
independent board members from SAR 20,000 to SAR 50,000 per year.
And to keep the compensation per meeting as is with an amount of SAR
5,000.
10/05/2023
Announcement by Al Rajhi Capital regarding a Material Development of
Al Rajhi REIT Fund
Al Rajhi Capital, in its capacity as the Fund Manager of Al Rajhi REIT
Fund , announces the signing of a new master-lease agreement for both
assets, Blue Tower located in Yarmouk District AlKhobar, and Luluah
Warehouses located in Masani District ,Riyadh, on 20/10/1444H
corresponding to 10/05/2023G as follows:
The Event: The Fund has signed the agreement with
Nofodh Real Estate Investment Co to lease both assets, Blue Tower
located in Yarmouk District AlKhobar, and Luluah Warehouses located in
Masani District, Riyadh, as following:
-
Blue Tower: Rental income amounting (12,331,513) Saudi Riyals for
each year excluding VAT with an escalation in the 3rd year of 7%.
The agreement will be for five (5) years starting on 11/03/2023G and
ending on 10/03/2028G
-
Luluah Warehouses: Rental income amounting (9,375,262) Saudi Riyals
for each year excluding VAT with an escalation in the 3rd year of
7%. The agreement will be for five (5) years starting on 06/03/2023G
and ending on 05/03/2028G
The tenant is Nofodh Real Estate Investment Co, It should also be
noted that the lessee is not a related party.
The Impact Caused by the Event: The effect is
considered positive as the signing of the new agreement ensures the
continuity of 100% property occupancy at the same level of previous
years' income with a contractual escalation
07/05/2023
Announcement by Al Rajhi Capital regarding second call for a meeting
of the Fund’s unitholders of Al Rajhi REIT Fund
Al Rajhi Capital invites Al Rajhi REIT Fund unitholders to attend
unitholders meeting, which will be held through modern technology
using Tadawulaty services on Thursday, 21/10/1444H corresponding to
11/05/2023G, to discuss the following agenda:
Date of the Meeting: 11-05-2023 G Corresponding to
21-10-1444 H
Place of the Meeting: The meeting will be held
remotely using Tadawulaty services
Time of the Meeting: 6:00 PM
Agenda:
-
Vote to increase the total assets of the Fund & the
supplementary terms & conditions, through the issuance of
additional units (cash), provided that the increase in the Fund
capital is between (330,000,000) Saudi Riyals at the minimum, and
(1,012,380,710) Saudi Riyals at the maximum. This is to complete
the acquisition of the 2 Assets (Riyadh Avenue - Riyadh and
Al-Henaki Business Center - Jeddah)
-
Vote on the increase of limit cap of the remuneration of each
independent board members from SAR 20,000 to SAR 50,000. And to
keep the compensation per meeting as is with an amount of SAR
5,000.
The second meeting is valid regardless of the percentage of units
represented at the meeting. All unitholders who are registered at
Securities Depository Center (Edaa) by the end of the trading
session preceding the meeting will have the right to attend and
vote.
E-voting:
Voting will commence for Unitholders registered in Tadawulaty services
from 01:00am on Monday 18/10/1444H corresponding to 08/05/2023G, until
the end of the meeting. Registration and voting in Tadawulaty services
will be available free to all unitholders using the following link:
Click
Here
Accordingly, the Fund Manager hopes that all unitholders will register
in the “Tadawulaty” services to participate and vote remotely on the
assembly items. Note that the right to register attendance for the
assembly meeting ends at the time of the assembly, and the right to
vote on the assembly items for those present ends with the end of the
meeting.
For further information: please contact: 8001245858
Email: customerservice@alrajhi-capital.sa
07/05/2023
Al Rajhi Capital Announces the Non-Convening of the Unitholders
Meeting of Al Rajhi REIT Fund
Al Rajhi Capital announces the non-convention of the meeting of the
unitholders of Al Rajhi REIT Fund which was scheduled to be held on
using modern technology means through “Tadawulaty” service, at 6:00 pm
on Thursday 14/10/1444H corresponding to 04/05/2023G at 6:00 pm
The Unitholders Meeting Specified Date: 04-05-2023
Corresponding to 14-10-1444
Non-convening Reason: Due to the incomplete of quorum
requirement, it was decided to postpone the Assembly and call for a
second meeting to be determined and announced later.
03/05/2023
Announcement by Al Rajhi Capital regarding the distributions of fund’s
dividends to the unitholders of Al Rajhi REIT Fund
Al Rajhi Capital announces the distribution of cash dividends to the
unitholders of Al Rajhi REIT Fund for the period 1st January 2023 to
31st March 2023 as follows:
Dividends maturity period: 1st Quarter of the year
2023G.
Total distributed dividends: SAR 24,278,528.55
Number of Outstanding Units on which Cash Dividends will be
Distributed:
161,856,857 units
The amount of dividends distributed for each unit:
SAR 0.15
Percentage of distribution ratio of the Net Assets Value
(%):
1.80%
Percentage of distribution ratio of the Net Assets as of:
2022-12-31 Corresponding to 1444-06-07
The cash distributions entitlement will be for unitholders as per
the unitholders register on the end of:
2023-05-15 Corresponding to 1444-10-25
Dividends Payment (Number of Days): Dividends will be
paid within (12) business days post the eligibility date
Additional Information:
-
Net Asset Value based on Fair Value as of 2022-12-31 Corresponding
to 1444-06-07
-
Eligibility of dividends shall be for unit-holders in the register
per Tadawul records as of 25/10/1444H corresponding to Monday,
15/05/2023 (end of trading day on 21/10/1444H corresponding to
Thursday 11/05/2023)
-
Dividend per Unit = SAR 0.15; dividend represents 0.15% of the Par
value
-
The Fund Manager wishes to remind the unit holders to update their
information with Capital Market Institution, where their accounts
are being held, to ensure the direct deposit of their due
distributions.
13/04/2023
Announcement by Al Rajhi Capital the availability of the quarterly
statement of Rajhi REIT Fund for the period ending on 31/03/2023
Al Rajhi Capital announces that the quarterly statement of Al Rajhi
REIT Fund for the period ending on 31/03/2023.. For more details,
please
Click
Here
05/04/2023
Announcement by Al Rajhi Capital regarding call for a meeting of the
Fund’s unitholders of Al Rajhi REIT Fund
Al Rajhi Capital invites Al Rajhi REIT Fund unitholders to attend
unitholders meeting, which will be held through modern technology
using Tadawulaty services on Tuesday, 14/10/1444H corresponding to
04/05/2023G, to discuss the following agenda:
Date of the Meeting: 04-05-2023 G Corresponding to
14-10-1444 H
Place of the Meeting: The meeting will be held
remotely using Tadawulaty services
Time of the Meeting: 6:00 PM
Agenda:
-
Vote to increase the total assets of the Fund & the
supplementary terms & conditions, through the issuance of
additional units (cash), provided that the increase in the Fund
capital is between (330,000,000) Saudi Riyals at the minimum, and
(1,012,380,710) Saudi Riyals at the maximum. This is to complete
the acquisition of the 2 Assets (Riyadh Avenue - Riyadh and
Al-Henaki Business Center - Jeddah)
-
Vote on the increase of limit cap of the remuneration of each
independent board members from SAR 20,000 to SAR 50,000. And to
keep the compensation per meeting as is with an amount of SAR
5,000.
The meeting must be attended by a number of Unit Holders who
collectively own at least 51% of the value of fund’s units. All unit
holders who are registered at Securities Depository Center (Edaa) by
the end of the trading session preceding the meeting will have the
right to attend and vote.
E-voting:
Voting will commence for Unitholders registered in Tadawulaty services
from 01:00am on Sunday 10/10/1444H corresponding to 30/04/2023G, until
the end of the meeting. Registration and voting in Tadawulaty services
will be available free to all unitholders using the following link:
Click
Here
Accordingly, the Fund Manager hopes that all unitholders will register
in the “Tadawulaty” services to participate and vote remotely on the
assembly items. Note that the right to register attendance for the
assembly meeting ends at the time of the assembly, and the right to
vote on the assembly items for those present ends with the end of the
meeting.
For further information: please contact: 8001245858
Email: customerservice@alrajhi-capital.sa
03/04/2023
Al Rajhi Capital announces an addendum announcement regarding a
material development of Al Rajhi REIT Fund
Date of the previous announcement: 13-04-1444H
Corresponding to 07-11-2022G
Following the announcement for the Al Rajhi Capital published on
13/04/1444 AH Corresponding to 07/11/2022 AD. Al Rajhi Capital wishes
to clarify that on Sunday 11/09/1444AH corresponding to 02/04/2023AD,
The Capital Market Authority approved the supplementary terms and
conditions related to the increase of the total value of the fund
assets, which will be used to complete the acquisition of two
properties in Riyadh and Jeddah.
The Impact Caused by the Event: The fund manager
expects upon completion of the offering, that the impact will be
positive on the fund's distributions.
Additional Information The fund manager later will
invite the unit holders to vote on the decision of increasing the
total value of the fund assets, and to approve the supplementary annex
to the fund's terms and conditions.
30/03/2023
Announcement by Al Rajhi Capital that Al Rajhi REIT Fund’s annual
reports, including the annual audited financial statements, for the
period ended on 31/12/2022 are available to the public
Al Rajhi Capital announces that Al Rajhi REIT Fund’s annual reports,
including the annual audited financial statements, for the period
ended on 31/12/2022 are available to the public:
- Net Asset Value at end of the period: SAR 1,260,541,568
- Total Fees & Expenses for the period: SAR 76,259,893
- Net Profit (loss) for the period: SAR 113,410,901
-
No. of outstanding Units at end of the period: 161,856,857 units
- Net Asset Value per Unit: SAR 8.33 (fair value)
- Revenue of the period: 6.6%
Notes related to Financials:
-
Total Fees & Expenses include an amount in relation to profit
on outstanding loan Facility and depreciation expense
- Funds from Operations (FFO) amounts to SAR 113,640,540
- Total Asset: 2,186,582,095
-
Total dividends is the dividends amount for the period 1st Jan
2022 to 31st Dec 2022
- Total Dividends: SAR 106,825,526
- Total Income: SAR 159,965,892
- Impairment on investment properties: SAR 29,704,902
-
The return for the period was calculated by Annualized Dividend
Yield at Par Value for the period
- The return of total income to total asset: 7.31%
- Net Asset Value per Unit: SAR 7.79 (book value)
- Net Asset Value per Unit: SAR 8.33 (fair value)
For Al Rajhi REIT Fund’s annual report, including the annual audited
financial statements, please
Click
Here
06/02/2023
Announcement by Al Rajhi Capital regarding the distributions of fund’s
dividends to the unitholders of Al Rajhi REIT Fund
Al Rajhi Capital announces the distribution of cash dividends to the
unitholders of Al Rajhi REIT Fund for the period 1st July 2022 to 31st
December 2022 as follows:
Dividends maturity period: 2nd Half of the year
2022G.
Total distributed dividends: SAR 53,412,762.81
Number of Outstanding Units on which Cash Dividends will be
Distributed:
161,856,857 units
The amount of dividends distributed for each unit:
SAR 0.33
Percentage of distribution ratio of the Net Assets Value
(%):
3.97%
Percentage of distribution ratio of the Net Assets as of:
2022-06-30 Corresponding to 1443-12-01
The cash distributions entitlement will be for unitholders as per
the unitholders register on the end of:
2023-02-14 Corresponding to 1444-07-23
Dividends Payment (Number of Days): Dividends will be
paid within (12) business days post the eligibility date
Additional Information:
-
Net Asset Value based on Fair Value as of 01/12/1443H
corresponding to 30/06/2022
-
Eligibility of dividends shall be for unit-holders in the register
per Tadawul records as of 23/07/1444H corresponding to Tuesday,
14/02/2023 (end of trading day on 21/07/1444H corresponding to
Sunday 12/02/2023)
-
Dividend per Unit = SAR 0.33; dividend represents 3.3% of the Par
value
-
The Fund Manager wishes to remind the unit holders to update their
information with Capital Market Institution, where their accounts
are being held, to ensure the direct deposit of their due
distributions.
12/01/2023
Announcement by Al Rajhi Capital the availability of the quarterly
statement of Rajhi REIT Fund for the period ending on 31st December
2022
Al Rajhi Capital announces that the quarterly statement of Al Rajhi
REIT Fund for the period ending on 31st December 2022.. For more
details, please
Click Here
11/01/2023
Announcement by Al Rajhi Capital for the availability of the
semiannual reports of the assets of Al Rajhi REIT Fund for the period
ending on 31st December 2022
l Rajhi Capital announces that semiannual evaluation reports of the
assets of Al Rajhi REIT Fund for the period ending on 31st December
2022, prepared by accredited valuers Jones Lang LaSalle and Century 21
are available, according to the policy of Fund Asset Evaluation stated
in the Terms and Conditions.
A copy of the reports can be found in the below links:
08/12/2022
Announcement by Al-Rajhi Capital regarding an update of the terms and
conditions of Al-Rajhi REIT Fund
Al-Rajhi Capital announces an update of the terms and conditions of
Al-Rajhi REIT Fund, as of 14/05/1444H corresponding to 08/12/2022G. A
summary of the main updated items are as follows:
-
Changing the policy of distributing cash dividends from
semi-annual, paid at the end of February and August, to quarterly
cash dividends for the financial periods ending in March, June,
September and December, where the payment of the dividends will be
during the following quarter, starting from the first quarter of
2023.
-
Cash dividends will be distributed at the end of February 2023 for
the half year ending in 2022.
The updated terms and conditions can be found
here
22/11/2022
Announcement by Al Rajhi Capital regarding the details of
non-fundamental changes to Al Rajhi REIT Fund
Al Rajhi Capital announces the approval of the Fund’s Board of
Directors of a non-fundamental change to Al Rajhi REIT fund; Such
change will become effective on 14/06/1444 H corresponding to
8/12/2022 G. The details of the non-fundamental change are as follows:
-
Changing the policy of distributing cash dividends from
semi-annual, paid at the end of February and August, to quarterly
cash dividends for the financial periods ending in March, June,
September and December, where the payment of the dividends will be
during the following quarter, starting from the first quarter of
2023.
-
Cash dividends will be distributed at the end of February 2023 for
the half year ending in 2022.
07/11/2022
Announcement by Al Rajhi Capital regarding a material development of
Al Rajhi REIT Fund
Al Rajhi Capital Company - The fund manager for Al Rajhi REIT Fund -
announces the approval of the Fund's Board of Directors on signing
purchase agreements of two developed properties, one property is based
in Riyadh and the other property is in Jeddah with a total value of
SAR 930 Mn and leased for a total rent of SAR 70.49Mn.
It is worth mentioning that the purchase agreements are conditional to
complete the process of increasing the fund’s total asset value
through additional unit offering which requires approvals of Capital
Market Authority, Saudi Exchange (Tadawul) and unit holders.
The resulted Impact from the occurrence of the Event:
Completion of the process of increasing the total fund’s size by
obtaining the approvals of Capital Market Authority, Saudi Exchange
(Tadawul) and Unitholders by offering additional units.
13/10/2022
Announcement by Al Rajhi Capital the availability of the quarterly
statement of Al Rajhi REIT Fund for the period ending on 30th
September 2022
Al Rajhi Capital announces that the quarterly statement of Al Rajhi
REIT Fund for the period ending on 30th September 2022. For more
details, please
Click Here
11/10/2022
Addendum Announcement from Al Rajhi Capital Regarding Al Rajhi Capital
Announcement about a specific event related to Al Rajhi REIT Fund
Date of the previous announcement: 22-06-1443H
Corresponding to 25-01-2022G
In addition to Al-Rajhi Capital's announcement published on
22-06-1443H corresponding to 25-01-2022G. Al Rajhi Capital, the Fund
Manager of Al Rajhi REIT would like to inform the unitholders that the
fund’s board of directors have approved the following:
-
The increase the sharia compliant facility availed from Al Rajhi
Bank for the purpose of acquisition from SAR 600,000,000 to SAR
900,000,000 conditional to not exceeding 50% from the fund’s total
assets.
-
Reduction of profit spread on total financing from Al Rajhi Bank,
and hedging against interest rates for a facility amounting SAR
193.7 Mn. Where 50% from the total financing (Approximately SAR
448) will have a fixed cost at a rate of 4.52% until the end of
2025G.
The Impact Caused by the Event: Increase the ability
to acquire assets, reduce the risk of profit rate fluctuations, where
it will have a positive impact on the fund from the beginning of
2023G.
16/08/2022
Announcement by Al Rajhi Capital for providing the public with the
interim financial statements of Al Rajhi REIT Fund for the period
ending on 30/06/2022
Al Rajhi Capital announces that the interim financial statements of Al
Rajhi REIT Fund for the period ending on 30/06/2022 are available to
the public. The following is the summary of the interim financial
results of the period:
Net assets: 1,267,831,121
Total Expenses and Fees: (29,830,107)
Net Profit/(loss): 67,287,692
Number of the Outstanding Units: 161,856,857
Net Unit Value for Unit: 8.3
Revenue of the period %: 3.3%
Fund’s Interim Financial Statement:
Link
Notes related to Financials (Additional Information):
-
Total Fees & Expenses include an amount in relation to
profit on outstanding loan Facility and depreciation
expense
- Net Asset Value per Unit: SAR 8.3 (fair value)
- Net Asset Value per Unit: SAR 7.83 (book value)
-
Revenue of the period is the percentage of dividend for the period
from 1 Jan 2022 to 30 June 2022 at Par Value: 3.3%. Noting that
the total dividends for the period 1st Jan 2022 to 30th June 2022
equal to SAR 53,412,762.81
03/08/2022
Al Rajhi Capital Announces distribution of cash dividend to the
unit-holders of Al Rajhi REIT Fund for the period 1st Jan 2022 to 30th
June 2022
Al Rajhi Capital announces the distribution of cash dividend to the
unit-holders of Al Rajhi REIT Fund for the period 1st Jan 2022 to 30th
June 2022 as per following:
Dividends maturity period: 1st Half of the year 2022G
Total distributed dividends: SAR 53,412,762.81
Number of Outstanding Units on which Cash Dividends will be
Distributed:
161,856,857 units
The amount of dividends distributed for each unit:
SAR 0.33
Percentage of distribution ratio of the Net Assets Value
(%):
4.12%
Percentage of distribution ratio of the Net Assets as of:
31/12/2021 Corresponding to 27/05/1443
The cash distributions entitlement will be for unitholders as per
the unitholders register on the end of:
11/08/2022 Corresponding to 13/01/1444
Dividends Payment (Number of Days): Dividends will be
paid within (15) business days post the eligibility date
Additional Information:
-
Net Asset Value based on Fair Value as of 27/05/1443H
corresponding to 31/12/2021
-
Eligibility of dividends shall be for unit-holders in the register
per Tadawul records as of 13/01/1444H corresponding to Thursday,
11/08/2022 (end of trading day on 11/01/1444H corresponding to
Tuesday 09/08/2022)
-
Dividend per Unit = SAR 0.33; dividend represents 3.3% of the Par
value
-
The Fund Manager wishes to remind the unit holders to update their
bank accounts to ensure depositing the outstanding dividend to
their accounts directly.
01/08/2022
Announcement by Al Rajhi Capital for the availability of the
semiannual reports of the assets of Al Rajhi REIT Fund for the period
ending on 30th June 2022
Al Rajhi Capital announces that semiannual evaluation reports of the
assets of Al Rajhi REIT Fund for the period ending on 30th June 2022
prepared by accredited valuers Jones Lang LaSalle and Century 21 are
available, according to the policy of Fund Asset Evaluation stated in
the Terms and Conditions.
A copy of the reports can be found in the below links:
20/07/2022
Al Rajhi Capital announces the availability of quarterly statement for
Al Rajhi REIT Fund for the period ended 30th June 2022
Al Rajhi Capital announces the availability of quarterly statement for
Al Rajhi REIT Fund for the period ended 30th June 2022. For more
details, please
Click Here
09/06/2022
Corrective Announcement from the fund manager of Al Rajhi REIT Fund
regarding Announcement by Al-Rajhi Capital regarding an update of the
terms and conditions of the Al-Rajhi REIT Fund
Date of the previous announcement: 09/11/1443
corresponding to 08/06/2022
The Misstatement in the Previous Announcement:
Corrective Announcement by Al Rajhi Capital regarding an update of the
terms and conditions of Al Rajhi REIT. the Fund Manager would like to
clarify an error in the Arabic version of the file attached. on 09
Dhul-Qa'dah 1443H, corresponding to 8 June 2022G.
The Correction of the Misstatement: Corrective
Announcement by Al Rajhi Capital regarding an update of the terms and
conditions of Al Rajhi REIT. the Fund Manager would like to clarify an
error in the Arabic version of the file attached. on 09 Dhul-Qa'dah
1443H, corresponding to 8 June 2022G.
For the updated terms and conditions please
Click
Here
The Impact Caused by the Misstatement: The Fund
Manager also wishes to emphasize that there is no impact arising from
this corrective announcement.
Additional Information: N/A
08/06/2022
Al-Rajhi Capital announces updating the terms and conditions of the
Al-Rajhi REIT Fund
Al-Rajhi Capital announces updating the terms and conditions of the
Al-Rajhi REIT Fund, as of 13/11/1443H corresponding to 12/06/2022G. A
summary of the main updated items are as follows:
-
Appointment of Ibrahim Ahmed Al Bassam & Co (PKF) as an
auditor for Al Rajhi REIT Fund instead of Alluhaid & Alyahya
Chartered Accountants.
For the updated terms and conditions, please
Click
Here
26/05/2022
Announcement by Al Rajhi Capital Company regarding the details of non-
fundamental changes to Al Rajhi REIT Fund
Al Rajhi Capital Company –The fund manager for Al Rajhi REIT Fund
-announces the approval of the Fund’s Board of Directors of a
non-fundamental change to Al Rajhi REIT fund; Such change will be
effective on 13/11/1443 H corresponding to 12/06/2022G. The details of
the non-fundamental change are as follows:
-
Appointment of Ibrahim Ahmed Al Bassam & Co (PKF) as an
auditor for Al Rajhi REIT Fund instead of Alluhaid & Alyahya
Chartered Accountants.
Please note that this appointment will not result in any increase in
the fees for the auditor's fees.
14/04/2022
Al Rajhi Capital announces the availability of quarterly statement for
Al Rajhi REIT Fund for the period ended 31st March 2022
Al Rajhi Capital announces the availability of quarterly statement for
Al Rajhi REIT Fund for the period ended 31st March 2022. For more
details, please
Click Here
31/03/2022
Announcement by Al Rajhi Capital that Al Rajhi REIT Fund’s annual
reports, including the annual audited financial statements, for the
period ended on 31/12/2021 are available to the public
Al Rajhi Capital announces that Al Rajhi REIT Fund’s annual reports,
including the annual audited financial statements, for the period
ended on 31/12/2021 are available to the public:
- Net Asset Value at end of the period: SAR 1,245,863,350
- Total Fees & Expenses for the period: SAR 83,393,275
- Net Profit (loss) for the period: SAR (175,077,857)
-
No. of outstanding Units at end of the period: 161,856,857 units
- Net Asset Value per Unit: SAR 8.01 (fair value)
- Revenue of the period: 5.6%
Notes related to Financials:
-
Total Fees & Expenses include an amount in relation to profit
on outstanding loan Facility and depreciation expense
- Funds from Operations (FFO) amounts to SAR 80,586,183
- Total Asset: 2,061,500,228
-
Total dividends is the dividends amount for the period 1st Jan
2021 to 31st Dec 2021
- Total Income: SAR 135,383,569
- Impairment on investment properties: SAR 227,068,151
-
The return for the period was calculated by Annualized Dividend
Yield at Par Value for the period
- The return of total income to total asset: 6.56%
- Total Dividends: SAR 90,639,840
- Net Asset Value per Unit: SAR 7.70 (book value)
- Net Asset Value per Unit: SAR 8.01 (fair value)
For Al Rajhi REIT Fund’s annual report, including the annual audited
financial statements, please
Click Here
28/02/2022
Al-Rajhi Capital announces updating the Terms and Conditions of
Al-Rajhi REIT Fund
Al-Rajhi Capital announces updating Al-Rajhi REIT Fund Terms &
Condition as of 27/07/1443 H, corresponding to 28/02/2022:, below are
the updated items:
-
Updating Al Rajhi REIT Terms & Conditions in according to
annex (2) of the amended real estate investment funds regulation
-
The updated terms and condition can be founded in the below link:
27/02/2022
Al Rajhi Capital Company Announces the Meeting of Unitholders’ Results
of Al Rajhi REIT Fund
Al Rajhi Capital Company announces the results of Al Rajhi REIT Fund’
unitholders meeting held by using modern technology means through
“Tadawulaty” service, at 6:30 PM on Thursday 23/07/1443H corresponding
to 24/02/2022G, as follows:
Date of the Unitholders Meeting: 24-02-2022
Corresponding to 23-07-1443
The Results of the Meeting:
-
The disapproval of releasing the locked up units owned by Al
Khaleej Training and Education Company (The master tenant of
Baraem Rowad Al Khaleej Intl Kindergarten, Riyadh, Rowad Al
Khaleej International Schools in Riyadh, Rowad Al Khaleej
International Schools in Dammam) amounting 26,404,494 units, as
the lockup period stated in the Terms and Conditions is (3) years
beginning from 06/01/2020G. in return of submitting promissory
notes as a guarantee to pay the rent for the entire remaining
period of the lease contract, the lease term is 15 years starting
from December 24th, 2019G.
21/02/2022
Announcement by Al Rajhi Capital for the availability of the
semiannual reports of the assets of Al Rajhi REIT Fund for the period
ending on 31st December 2021
Al Rajhi Capital announces that semiannual evaluation reports of the
assets of Al Rajhi REIT Fund for the period ending on 31st December
2021 prepared by accredited valuers Jones Lang LaSalle and Century 21
are available, according to the policy of Fund Asset Evaluation stated
in the Terms and Conditions.
A copy of the reports can be found in the below links:
21/02/2022
Reminder Announcement by Al Rajhi Capital Regarding the Invitation to
Attend the Meeting of Unitholders (Second Meeting) of Al Rajhi REIT
Fund
Reference to the announcement by Al Rajhi Capital published on
15/07/1443H, corresponding to 16/02/2022G regarding a call for a
meeting of the Fund’s Unitholders of Al Rajhi REIT Fund (Second
meeting). The Fund Manager would like to remind that the electronic
voting for Unitholders registered in Tadawulaty services started from
10:00am on Sunday 19/07/1443H corresponding to 20/02/2022G and will
continue until the end of the meeting on Thursday 23/07/1443H
corresponding to 24/02/2022G. Registration and voting on Tadawulaty
services will be available for free to all Unitholders using this
Link
Note, the eligibility to register attendance at the assembly meeting
ends at the time of the assembly, and the right to vote on the
assembly's items for the attendees ends with the end of the meeting at
7:00 PM. Accordingly, the Fund Manager wishes all Unitholders to
register on Tadawulaty services to participate and vote remotely on
the Assembly's items.
For further information please contact this number: 8001245858, or by
Email
16/02/2022
Al Rajhi Capital Announces an Invitation to Attend the Meeting of
Unitholders ( Second Meeting ) of Al Rajhi REIT Fund
Al Rajhi Capital invites Al Rajhi REIT Fund unit holders to attend a
meeting on Thursday, 23/07/1443H corresponding to 24/02/2022G, to be
held through modern technology using Tadawulaty services to discuss
the following agenda:
Date of the Meeting: 24-02-2022 Corresponding to
23-07-1443
Place of the Meeting: The meeting will be held
remotely using Tadawulaty services
Time of the Meeting: 6:30 PM
Hyperlink of the Meeting Location:
Link
Agenda:
-
Vote to releasing the locked up units owned by Al Khaleej Training
and Education Company (The master tenant of Baraem Rowad Al
Khaleej Intl Kindergarten, Riyadh, Rowad Al Khaleej International
Schools in Riyadh, Rowad Al Khaleej International Schools in
Dammam) amounting 26,404,494 units, as the lockup period stated in
the Terms and Conditions is (3) years beginning from 06/01/2020G.
in return of submitting promissory notes as a guarantee to pay the
rent for the entire remaining period of the lease contract, the
lease term is 15 years starting from December 24th, 2019G.
The second meeting is valid regardless of the percentage of units
represented at the meeting. All unit holders who are registered at
Securities Depository Center (Edaa) by the end of the trading
session preceding the meeting will have the right to attend and
vote.
Additional Information:
Voting will commence for Unitholders registered in Tadawulaty services
from 10:00am on Sunday 19/07/1443H corresponding to 20/02/2022G, until
the end of the meeting. Registration and voting in Tadawulaty services
will be available free to all unitholders using this
Link
Note that the eligibility to register attendance at the assembly
meeting ends at the time of the assembly, and the right to vote on the
assembly's items for the attendees ends with the end of the meeting.
Accordingly, the Fund Manager hopes that all unitholders will register
in Tadawulaty services to participate and vote remotely on the
Assembly's items.
For further information please contact this number: 8001245858, or by
Email
16/02/2022
Al Rajhi Capital Announces the Non-Convening of the Unitholders
Meeting of Al Rajhi REIT Fund
Al Rajhi Capital invites Al Rajhi REIT Fund unit holders to attend a
meeting that will be held by using modern technology means through
“Tadawulaty” service, at 4:00 PM on Tuesday 14/07/1443H corresponding
to 15/02/2022G.
The Unitholders Meeting Specified Date: 15-02-2022
Corresponding to 14-07-1443
Non-convening Reason: Due to the incomplete of quorum
requirement, it was decided to postpone the Assembly and call for a
second meeting to be determined and announced later.
14/02/2022
Reminder Announcement by Al Rajhi Capital Regarding the Invitation to
Attend the Meeting of Unitholders (First Meeting) of Al Rajhi REIT
Fund
Reference to the announcement by Al Rajhi Capital published on
28/06/1443H, corresponding to 31/01/2022G regarding a call for a
meeting of the Fund’s Unitholders of Al Rajhi REIT Fund (first
meeting). The Fund Manager would like to remind that the electronic
voting for Unitholders registered in Tadawulaty services started from
10:00am on Friday 10/07/1443H corresponding to 11/02/2022G and will
continue until the end of the meeting on Tuesday 14/07/1443H
corresponding to 15/02/2022G. Registration and voting on Tadawulaty
services will be available for free to all Unitholders using this
Link
Note, the eligibility to register attendance at the assembly meeting
ends at the time of the assembly, and the right to vote on the
assembly's items for the attendees ends with the end of the meeting at
5:00 PM. Accordingly, the Fund Manager wishes all Unitholders to
register on Tadawulaty services to participate and vote remotely on
the Assembly's items.
For further information please contact this number: 8001245858, or by
Email
09/02/2022
Al Rajhi Capital Announces a specific event to Al Rajhi REIT Fund
Al Rajhi Capital announces acquisition of a property by Al Rajhi REIT
Fund
Completion of acquisition of a property named Oasis Mall on Tuesday
07/07/1443H corresponding to 08/02/2022G, by purchasing the ground
title with an amount of SAR 35Mn and purchasing the ground lease-hold
rights of the property with an amount of SAR 58Mn. Resulting in owning
the property on a free-hold basis with total amount of SAR 93Mn, the
transaction was funded through the available shariah compliant debt
facility for Al Rajhi REIT.
The property is located in Al Kharj Governance on King Abdullah Road,
on a plot area of 16,719.61² and built up area of 17,466.42m². The
mall consists of a two storey building and a standalone restaurant
outside the building.
The mall building is fully let to Landmark Arabia LTD. for 18 years
from 28/05/2015G and ends in 27/05/2033G (The remaining is 11.33
years). The rent amount is SAR 6.8Mn for the first 5 years, SAR 7.82Mn
for the next five years and SAR 9.35Mn for the eight years after (The
current rent is SAR 7.82Mn). The standalone restaurant is leased to
Herfy Food Service Co. for 19 years from 25/10/2014G and ends in
31/03/2033G (The remaining is 11.15 Years). The rent amount is SAR
450,000 for the first 5 years, SAR 550500,000 for the next 5 years and
SAR 550,000 for the remaining 9 years (The current rent is SAR
500,000).
The total current rental income for the property is SAR 8.32Mn and the
yield is 8.9% from the purchase price.
This acquisition is expected to have a positive impact on Al Rajhi
REIT’s financial performance going forward. Al Rajhi Capital confirms
that there are no related parties in the acquisition except the source
of financing is from existing debt facility from Al Rajhi Bank.
01/02/2022
Al Rajhi Capital Announces distribution of cash dividend to the
unit-holders of Al Rajhi REIT Fund for the period 1st July 2021 to
31st December 2021
Al Rajhi Capital announces the distribution of cash dividend to the
unit-holders of Al Rajhi REIT Fund for the period 1 st July 2021 to 31
st December 2021 as per following:
- Total amount of dividend distribution = SAR 45,319,919.96
- No. of Eligible Units = 161,856,857
-
Dividend per Unit = SAR 0.28; dividend represents 2.8% of the Par
value
-
Dividend represents 3.40% of Net Asset Value (based on Fair Value
as of 20/11/1442H corresponding to 30/06/2021)
-
Eligibility of dividends shall be for unit-holders in the register
per Tadawul records as of 09/07/1443H corresponding to Thursday,
10/02/2022 (end of trading day on 07/07/1443H corresponding to
Tuesday 08/02/2022)
-
Dividends will be paid within 15 business days post the
eligibility date.
The Fund Manager wishes to remind the unit holders to update their
bank accounts to ensure depositing the outstanding dividend to their
accounts directly.
31/01/2022
Al Rajhi Capital Announces an Invitation to Attend the Meeting of
Unitholders ( First Meeting ) of Al Rajhi REIT Fund
Al Rajhi Capital invites Al Rajhi REIT Fund unit holders to attend a
meeting on Tuesday, 17/07/1443H corresponding to 15/02/2022G, to be
held through modern technology using Tadawulaty services to discuss
the following agenda:
Date of the Meeting: 15-02-2022 G Corresponding to
14-07-1443 H
Place of the Meeting: The meeting will be held
remotely using Tadawulaty services
Time of the Meeting: 4:00 PM
Agenda:
-
Vote to releasing the locked up units owned by Al Khaleej Training
and Education Company (The master tenant of Baraem Rowad Al
Khaleej Intl Kindergarten, Riyadh, Rowad Al Khaleej International
Schools in Riyadh, Rowad Al Khaleej International Schools in
Dammam) amounting 26,404,494 units, as the lockup period stated in
the Terms and Conditions is (3) years beginning from 06/01/2020G.
in return of submitting promissory notes as a guarantee to pay the
rent for the entire remaining period of the lease contract, the
lease term is 15 years starting from December 24th, 2019G.
The meeting must be attended by a number of Unit Holders who
collectively own at least 51% of the value of fund’s units. All unit
holders who are registered at Securities Depository Center (Edaa) by
the end of the trading session preceding the meeting will have the
right to attend and vote.
Additional Information:
Voting will commence for Unitholders registered in Tadawulaty services
from 10:00am on Friday 10/07/1443H corresponding to 11/02/2022G, until
the end of the meeting. Registration and voting in Tadawulaty services
will be available free to all unitholders using the following link:
Click
Here
Note that the eligibility to register attendance at the assembly
meeting ends at the time of the assembly, and the right to vote on the
assembly's items for the attendees ends with the end of the meeting.
Accordingly, the Fund Manager hopes that all unitholders will register
in Tadawulaty services to participate and vote remotely on the
Assembly's items.
For further information please contact: 8001245858
Email: customerservice@alrajhi-capital.com
30/01/2022
Addendum announcement from Al Rajhi Capital Regarding updating the
terms and conditions of the Al-Rajhi REIT Fund
Date of the previous announcement: (13/06/1443 AH)
corresponding to 16/01/2022 AD
For more details about the previous announcement
Click Here
Further to the announcement of Al-Rajhi Capital published on
(13/06/1443 AH) corresponding to 16/01/2022 AD), Al-Rajhi Capital
would like to clarify the following:
-
Effectiveness of the change related to Appointment of Medad
Alkhaer Real Estate to conduct the handover works from previous
lessee “Alfouzan” and act as property and facility management for
Anwar plaza and Rama plaza as announced on 23/06/1443 AH
corresponding to 26/01/2022 AD.
-
Maintain the lock-up on Al-Khaleej Training and Education
Company’s units until completing necessary approvals.
For the updated terms and conditions, please
Click
Here
The Impact Caused by the Event: No impact.
27/01/2022
Addendum announcement from Al Rajhi Capital Regarding the details of
non- fundamental changes to Al Rajhi REIT Fund
Date of the previous announcement: 08-06-1443 H
Corresponding to 11-01-2022 G
For more details about the previous announcement
Click Here
In addition to Al-Rajhi Capital's announcement published on
08/06/1443H corresponding to 11/01/2022G. Al-Rajhi Capital announces
the following:
-
Effectiveness of the change related to Appointment of Medad
Alkhaer Real Estate to conduct the handover works from previous
lessee “Alfouzan” and act as property and facility management for
Anwar plaza and Rama plaza as announced on 23/06/1443 AH
corresponding to 26/01/2022 AD.
-
Effectiveness of releasing the lock-up on Al-Khaleej Training and
Education Company’s units will take effect after completing
necessary approvals.
The Impact Caused by the Event: No impact.
25/01/2022
Al Rajhi Capital announces the occurrence of a specific event related
to Al Rajhi REIT Fund (availed SAR 600 Million Shariah compliant
facility from Al Rajhi Bank)
Al Rajhi Capital, in its capacity as the manager of the Al Rajhi REIT
Fund, announces the completion of the process of increasing the limit
of the shariah compliant facilities granted to the fund Dated
24/1/2022 G corresponds 21/6/1443 H to by Al Rajhi Bank to an amount
of 600,000,000 Saudi Riyals.
The duration of the facility is seven years from the any drawdown,
bringing the total size of the facilities granted to the fund to be
1,416,254,600 Saudi riyals including 25,000,000 Saudi riyals profit
rate swap, whenever the fund decides to execute such an agreement.
Where the fund manager aims, by increasing the limit of facilities, to
finance any future acquisition deals that will maximize the targeted
returns for unit holders and achieve the fund’s objectives, while
maintaining the upper limit of the financing ratio according to the
fund’s terms and conditions 50% of the fund’s total assets according
to the latest financial statements.
16/01/2022
Al Rajhi Capital announces updating the terms and conditions of the Al
Rajhi REIT Fund
Al Rajhi Capital announces updating the terms and conditions of the
Al-Rajhi REIT Fund, as of 23/06/1443H corresponding to 26/01/2022G.
Below are the updated items:
-
Releasing the lock on units owned by Al Khaleej Training and
Education Company (The master tenant of Baraem Rowad Al Khaleej
Intl Kindergarten, Riyadh, Rowad Al Khaleej International Schools
in Riyadh, Rowad Al Khaleej International Schools in Dammam)
amounting 26,404,494 units, as the lockup period stated in the
Terms and Conditions is (3) years beginning from 06/01/2020G. in
return of submitting promissory notes as a guarantee to pay the
rent for the entire remaining period of the lease contract, the
lease term is 15 years starting from December 24th, 2019G.
-
Appointment of Medad Alkhaer Real Estate to conduct the handover
works from previous lessee “Alfouzan” and act as property and
facility management for Anwar plaza and Rama plaza.
13/01/2022
Al Rajhi Capital announces the availability of quarterly statement for
Al Rajhi REIT Fund for the period ended 31st December 2021
Al Rajhi Capital announces the availability of quarterly statement for
Al Rajhi REIT Fund for the period ended 31st December 2021. For more
details, please
Click Here
11/01/2022
Announcement by Al Rajhi Capital Company regarding the details of non-
fundamental changes to Al Rajhi REIT Fund
Al Rajhi Capital Company – The fund manager for Al Rajhi REIT Fund -
announces the approval of the Fund’s Board of Directors of a
non-fundamental change to Al Rajhi REIT fund; Such change will be
effective on 23/06/1443 H corresponding to 26/01/2022 G. The details
of the non-fundamental change are as follows:
-
Releasing the lock on units owned by Al Khaleej Training and
Education Company (The master tenant of Baraem Rowad Al Khaleej
Intl Kindergarten, Riyadh, Rowad Al Khaleej International Schools
in Riyadh, Rowad Al Khaleej International Schools in Dammam)
amounting 26,404,494 units, as the lockup period stated in the
Terms and Conditions is (3) years beginning from 06/01/2020G. in
return of submitting promissory notes as a guarantee to pay the
rent for the entire remaining period of the lease contract, the
lease term is 15 years starting from December 24th, 2019G.
-
Appointment of Medad Alkhaer Real Estate to conduct the handover
works from previous lessee “Alfouzan” and act as property and
facility management for Anwar plaza and Rama plaza
01/12/2021
Addendum Announcement from Al Rajhi Capital Regarding a material
development related to Al Rajhi REIT Fund
Date of the previous announcement: 29-11-1441 H
Corresponding to 20-07-2020 G
For more details about the previous announcement
Click Here
Further to the announcement of Al-Rajhi Capital published on
29-11-1441 H corresponding to 20-07-2020 G, The Fund Manager of Al
Rajhi REIT would highlight that Rawaj Real Estate Company (the anchor
tenant for both assets blue tower and luluwah warehouse) have follow
the provisions of the lease agreement with respect to rent review
process, by appointing three appraisers so that the rent will be the
average of the three appraisers, the reviewed annual rent will be as
follows:
- Luluwah warehouse amount of SAR 9,375,262
- Blue tower amount of SAR 12,331,513
The rent has been revised from the beginning of the third year of the
lease agreement on 06/03/2020 until the end of the lease agreement.
The amended lease agreement was signed on 01/12/2021 G. which
stipulated on rescheduling of the unpaid due amounts totaling SAR
24,508,882.09 for blue tower and a total of SAR 18,633,333.23 for
luluwah warehouse to be scheduled on 6 payments, one payment upon
signing the contract and five payments on a monthly basis.
The Impact Caused by the Event: Enhancement of cash
available in the fund, a decrease in the total rent of the fund due to
the decrease in the rents of Blue Tower and Luluah Warehouse by 3.91%
and 2.78% respectively.
19/10/2021
Addendum Announcement from Al Rajhi Capital Regarding a material
development related to Al Rajhi REIT Fund
Date of the previous announcement: 07-05-1442 H
Corresponding to 22-12-2020 G
For more details about the previous announcement
Click Here
Further to the announcement of Al-Rajhi Capital published on
07-05-1442 H corresponding to 22-12-2020 G, The Fund Manager of Al
Rajhi REIT would highlight that after negotiations and judicial
sessions have appointed a legal counsel for the litigation against
Al-Fouzan Trading & Contracting Company in its request to balance
the lease contract of Al-Narjis, Al-Anwar and Rama Plaza, claiming
inability to benefit from the leased property.
The fund manager have appointed an expert, who confirmed the lack of
benefit for the tenant from Rama Plaza property due to Riyadh Metro
works. The board of directors have considered the expert’s opinion
taking into consideration the possible retroactive claim, aspiring for
the best interest of the unite holders both on the short and long
term, the board of directors have approved the settlement. The
settlement has been registered in General Court on 13/03/1443 H
corresponding to 19/10/2021 G included the following:
-
Termination of lease agreement of Rama Plaza from the date of
01/07/1442 Hijri.
-
Termination of lease agreement of Anwar Plaza from the date of
01/01/1443 Hijri, and the tenant will be obligated to pay a
penalty for terminating the lease agreement with an amount of SAR
4,633,200.
-
The Master Tenant will continue in the lease agreement of Al
Narjis Plaza with the same terms of the agreement.
-
The Master Tenant will settle the net due amount of SAR 29,408,010
by payment of SAR 15Mn and scheduling the rest of amounts on four
quarterly payments.
-
Finalizing the dispute in the properties of Narjis Plaza, Anwar
Plaza and Rama Plaza.
The current situation of Rama Plaza as follows:
- Occupancy rate: 61%
- Total rental income SAR 2,657,344
(Note: Metro works adjacent to the property including road closures
have affected the occupancy and the rental income)
The current situation of Anwar Plaza is as follows:
- Occupancy rate: 43.6%
- Rental income: SAR 1,207,400
It is worth mentioning here that the properties of Al Anwar and Rama
are located in distinctive commercial locations, therefore the fund's
management will work on a renovation plan for these properties, and is
currently leading negotiations with potential tenants for Al Anwar and
Rama Plaza to improve occupancy rates and rental returns.
The Impact Caused by the Event: Enhancement of fund’s
liquidity, decrease in total rental income of the fund in the short
term, it is expected to enhance the rental income after the
renovations.
14/10/2021
Al Rajhi Capital announces the availability of quarterly statement for
Al Rajhi REIT Fund for the period ended 30th September 2021
Al Rajhi Capital announces the availability of quarterly statement for
Al Rajhi REIT Fund for the period ended 30th September 2021. For more
details, please
Click Here
18/08/2021
Announcement by Al Rajhi Capital for providing the public with the
interim financial statements of Al Rajhi REIT Fund for the period
ending on 30/06/2021
Al Rajhi Capital announces that the interim financial statements of Al
Rajhi REIT Fund for the period ending on 30/06/2021 are available to
the public. The following is the summary of the interim financial
results of the period:
- Net Asset Value at end of the period: SAR 1,307,003,347
- Total Fees & Expenses for the period: SAR (51,296,050)
- Net profit (loss) for the period: SAR (159,257,780)
-
Number of outstanding units at the end of period: 161,856,857
units
- Net Asset Value per Unit: SAR 8.24
- Revenue of the period 5.6%
For more details about the Interim financial statements of Al Rajhi
REIT Fund, please
Click Here
Notes related to Financials (additional Information):
-
Total Fees & Expenses include an amount in relation to profit
on outstanding loan Facility and depreciation expense
- Net Asset Value per Unit: SAR 8.24 (fair value)
- Net Asset Value per Unit: SAR 8.08 (book value)
-
Revenue of the period is the Annualized Dividend Yield at Par
Value for the period: 5.6%
-
Annualized Dividend Yield has been calculated on the par value
- Total Dividends: SAR 45,319,919.96
-
Funds from Operations (FFO) amounts to SAR 45,817,806 for the
period ended 30th June 2021; equivalent to SAR 0.28 per unit
-
Total dividends paid are for the period 1st Jan 2021 to 30th June
2021
10/08/2021
Announcement by Al Rajhi Capital for the availability of the
semiannual reports of the assets of Al Rajhi REIT Fund for the period
ending on 30th June 2021
Al Rajhi Capital announces that semiannual evaluation reports of the
assets of Al Rajhi REIT Fund for the period ending on 30th June 2021.,
prepared by accredited valuers Jones Lang LaSalle and Century 21 are
available, according to the policy of Fund Asset Evaluation stated in
the Terms and Conditions.
A copy of the reports can be found in the below links:
05/08/2021
Al Rajhi Capital Announces distribution of cash dividend to the
unit-holders of Al Rajhi REIT Fund for the period 1st Jan 2021 to 30th
June 2021
Al Rajhi Capital announces the distribution of cash dividend to the
unit-holders of Al Rajhi REIT Fund for the period 1st Jan 2021 to 30th
June 2021 as per following:
- Total amount of dividend distribution = SAR 45,319,919.96
- No. of Eligible Units = 161,856,857
-
Dividend per Unit = SAR 0.28; dividend represents 2.8% of the Par
value
-
Dividend represents 2.87% of Net Asset Value (based on Fair Value
as of 16/05/1442H corresponding to 31/12/2020)
-
Eligibility of dividends shall be for unit-holders in the register
per Tadawul records as of 04/01/1443H corresponding to Thursday,
12/08/2021 (end of trading day on 02/01/1443H corresponding to
Tuesday 10/08/2021)
-
Dividends will be paid within 15 business days post the
eligibility date
The Fund Manager wishes to remind the unit holders to update their
bank accounts to ensure depositing the outstanding dividend to their
accounts directly.
14/07/2021
Al Rajhi Capital announces the availability of quarterly factsheet for
Al Rajhi REIT Fund for the period ended 30th June 2021
Al Rajhi Capital announces the availability of quarterly factsheet for
Al Rajhi REIT Fund for the period ended 30th June 2021. For more
details, please
Click Here
14/04/2021
Al Rajhi Capital announces the availability of quarterly factsheet for
Al Rajhi REIT Fund for the period ended 31st March 2021
Al Rajhi Capital announces the availability of quarterly factsheet for
Al Rajhi REIT Fund for the period ended 31st March 2021. For more
details, please
Click Here
31/03/2021
Al Rajhi Capital announces the availability of Al Rajhi REIT Fund
Annual Report for 2020
Al Rajhi Capital announces the availability of Al Rajhi REIT Fund’s
Annual Report for 2020, which includes an annual review of the Fund,
Fund performance details, Summary of Fund Board resolutions, the risk
assessment report and various portfolio highlights
23/03/2021
Al Rajhi Capital announces the occurrence of a specific event related
to Al Rajhi REIT Fund (availed SAR 145.4 Million Shariah compliant
facility from Al Rajhi Bank)
Al Rajhi Capital the fund manager of Al Rajhi REIT, announces that Al
Rajhi REIT had availed a SAR 145.4Million Shariah-compliant facility
from Al Rajhi Bank on 10/08/1442 corresponding to 23/03/2021.
The loan duration is for 5 years. During the tenure of the loan,
profit will be paid on a semi-annual basis with a bullet principal
repayment at the end of the contractual period of 5 years. This
facility is to refinance the existing loan tranche that is maturing on
23rd March 2021. Fund’s income-generating properties are already
pledged for the existing tranche and the same shall be continued for
this facility. In addition to a promissory note as guarantee.
The loan liability of SAR 145.4 Mn will continue to be on the
financial accounts of Al Rajhi REIT Fund for period of next 5 years.
22/03/2021
Al Rajhi Capital announces the availability of the annual audited
financial statements of Al Rajhi REIT Fund for the year ended
31/12/2020
Al Rajhi Capital announces the availability of the annual audited
financial statements of Al Rajhi REIT Fund for the year ended
31/12/2020. Following is the summary of the financial results:
- Net Asset Value at end of the period: SAR 1,511,581,047
- Total Income: SAR 170,366,698
- Total Fees & Expenses for the period: SAR 93,014,164
- Impairment on investment properties: SAR 64,900,754
- Net Profit for the period: SAR 12,451,780
- No. of Units at end of the period: 161,856,857 units
- Net Asset Value per Unit: SAR 9.34 (book value)
- Net Asset Value per Unit: SAR 9.75 (fair value)
- Annualized Dividend Yield at Par Value for the period: 5.6%
- Total Dividends: SAR 90,639,840
Notes related to Financials:
-
Total Fees & Expenses include an amount in relation to profit
on outstanding loan Facility and depreciation expense
- Funds from Operations (FFO) amounts to SAR 106,566,513
-
Total dividends paid is the amount paid for the period 1st Jan
2020 to 31st Dec 2020
For financial statement of Al Rajhi REIT Fund, please
Click Here
21/02/2021
Al-Rajhi Capital announces updating the terms and conditions of the
Al-Rajhi REIT Fund
Al-Rajhi Capital announces updating the terms and conditions of the
Al-Rajhi REIT Fund, as of 06/07/1442H corresponding to 18/02/2021G.
For more details, please
Click Here
21/02/2021
Al-Rajhi Capital announces a change in the Al-Rajhi REIT Fund Board
Al-Rajhi Capital announces a change in the Al-Rajhi REIT Fund Board,
due to the resignation of a Fund Board member Mr. Feras Alsaid
(independent member) and the appointment of a Fund Board member Mr.
Abdulaziz Alomair (independent member) as of 06/07/1442H corresponding
to 18/02/2021G. The current Board Fund members will be:
- Meshel Alshenaifi (Chairman and Independent member)
- Assem Raqaban (Non-independent member)
- Ahmed Al Mohsen (Non-independent member)
- Tarik Alsugair (Non-independent member)
-
Saoud bin Mohamed bin Abdulghani Sulaymani (Independent member)
- Abdulaziz Alomair (Independent member)
09/02/2021
Al Rajhi Capital announces the availability of Al Rajhi REIT Fund’s
semi-annual valuation reports as at 31st December 2020.
The valuation was conducted by Olaat Valuation Company, Valustrat
Consulting, Whitecubes Real Estate who are all independent and
licensed valuers, registered with the Saudi Authority for Accredited
Valuers. For copy of the reports, please click below links:
01/02/2021
Al Rajhi Capital Announces distribution of cash dividend to the
unit-holders of Al Rajhi REIT Fund for the period 1st July 2020 to
31st December 2020
Al Rajhi Capital announces the distribution of cash dividend to the
unit-holders of Al Rajhi REIT Fund for the period 1st July 2020 to
31st December 2020 as per following:
- Total amount of dividend distribution = SAR 45,319,919.96
- No. of Eligible Units = 161,856,857
-
Dividend per Unit = SAR 0.28; dividend represents 2.8% of the Par
value
-
Dividend represents 2.86% of Net Asset Value (based on Fair Value
as of 09/11/1441H corresponding to 30/06/2020)
-
Eligibility of dividends shall be for unit-holders in the register
per Tadawul records as of 29/06/1442H corresponding to Thursday,
11/02/2021 (end of trading day on 27/06/1442H corresponding to
Tuesday 09/02/2021)
-
Dividends will be paid within 15 business days post the
eligibility date.
The Fund Manager wishes to remind the unit holders to update their
bank accounts to ensure depositing the outstanding dividend to their
accounts directly.
13/01/2021
Al Rajhi Capital announces the availability of quarterly factsheet for
Al Rajhi REIT Fund for the period ended 31st December 2020
Al Rajhi Capital announces the availability of quarterly factsheet for
Al Rajhi REIT Fund for the period ended 31st December 2020. For more
details, please
Click Here
22/12/2020
Addendum Announcement from Al Rajhi Capital Regarding a material
development related to Al Rajhi REIT Fund.
Date of the previous announcement 13-02-1442 H Corresponding to
30-09-2020 G
For more details about the previous announcement
Click Here
In addition to Al-Rajhi Capital's announcement published on 13-02-1442
H Corresponding to 30-09-2020 G. Al Rajhi Capital, the Fund Manager of
Al Rajhi REIT have attended a court hearing on the date of 21/12/2020
G. of a legal case filed by the master lessee of Rama Plaza “Al Fouzan
Trading and General Contracting Company” requesting the court to
re-balance the lease agreement, as a result of his inability to fully
benefit from the intentions of leasing the property, as he claimed.
It’s worth noting that since the previous announcement to the date of
the court hearing the Fund Manager, have worked towards negotiating an
amicable resolution to the benefit of the unit holder without forgoing
their rights, without reaching an agreement.
The current rent of Rama Mall is 4.91 Million per Hijri year.
The fund manager will follow the due legal process to protect the unit
holders interest.
As the situation is still evolving and the case is under court
hearing, the financial impact on fund’s dividend cannot be fully
ascertained at this time.
The Fund Manager shall immediately update the unitholders of any
development arising in this matter
21/12/2020
Al Rajhi Capital announces the occurrence of a specific event related
to Al Rajhi REIT Fund (Signing SAR 254.5 Million Shariah compliant
facility agreement with Al Rajhi Bank)
Al Rajhi Capital the fund manager of Al Rajhi REIT, announces that Al
Rajhi REIT had signed a SAR 254.5Million Shariah-compliant facility
agreement with Al Rajhi Bank dated on 05/05/1442 corresponding to
20/12/2020.
The loan duration is for 5 years. During the tenure of the loan,
profit will be paid on a semi-annual basis with a bullet principal
repayment at the end of the contractual period of 5 years.
This facility is to refinance the existing loan tranche that is
maturing on 20th December 2020.
Fund’s income-generating properties are already pledged for the
existing tranche and the same shall be continued for this facility. In
addition to a promissory note as guarantee.
The loan liability of SAR 254.5 Mn will continue to be on the
financial accounts of Al Rajhi REIT Fund for period of next 5 years.
03/12/2020
Al-Rajhi Capital announces updating the terms and conditions of the
Al-Rajhi REIT Fund
Al-Rajhi Capital announces updating the terms and conditions of the
Al-Rajhi REIT Fund, as of 17/04/1442H corresponding to
02/12/2020G. For more details, please
Click
Here
03/12/2020
Al-Rajhi Capital announces a change in the Al-Rajhi REIT Fund Board
Al-Rajhi Capital announces a change in the Al-Rajhi REIT Fund Board,
due to the appointment of a Fund Board member Mr. Assem Raqaban
(non-independent member) as of 17/04/1442H corresponding to
02/12/2020G. Thus, the current Board Fund members will be:
- Meshel Alshenaifi (Chairman and Independent member)
- Assem Raqaban (Non-independent member)
- Ahmed Al Mohsen (Non-independent member)
- Tarik Alsugair (Non-independent member)
- Feras Alsaid (Independent member)
-
Saoud bin Mohamed bin Abdulghani Sulaymani (Independent member)
08/11/2020
Al-Rajhi Capital announces updating the terms and conditions of the
Al-Rajhi REIT Fund
Al-Rajhi Capital announces updating the terms and conditions of the
Al-Rajhi REIT Fund, as of 22/03/1442H corresponding to
08/11/2020G. For more details, please
Click
Here
08/11/2020
Al-Rajhi Capital announces a change in the Al-Rajhi REIT Fund Board
Al-Rajhi Capital announces a change in the Al-Rajhi REIT Fund Board,
due to the resignation of a Fund Board member Mr. Abdulaziz Al Sabt
(non-independent member) as of 22/03/1442H corresponding to
08/11/2020G. Thus, the current Board Fund members will be:
- Meshel Alshenaifi (Chairman and Independent member)
- Ahmed Al Mohsen (Non-independent member)
- Tarik Alsugair (Non-independent member)
- Feras Alsaid (Independent member)
-
Saoud bin Mohamed bin Abdulghani Sulaymani (Independent member)
12/10/2020
Al-Rajhi Capital announces appointment of Chairman for the Board of
Directors of Al Rajhi REIT Fund
Al-Rajhi Capital announces appointment of Mr. Meshel Alshenaifi, the
current independent board member, as a Chairman of the Board of
Directors with effect from 24/02/1442H corresponding to 11/10/2020G.
Thus, the Fund Board members will be:
- Meshel Alshenaifi (Chairman & Independent member)
- Abdulaziz A. Al-Sabt (Non-independent member)
- Ahmed Al Mohsen (Non-independent member)
- Tarik Alsugair (Non-independent member)
- Feras Alsaid (Independent member)
-
Saoud bin Mohamed bin Abdulghani Sulaymani (Independent member)
12/10/2020
Al-Rajhi Capital announces updating the terms and conditions of the
Al-Rajhi REIT Fund
Al-Rajhi Capital announces updating the terms and conditions of the
Al-Rajhi REIT Fund, as of 24/02/1442H corresponding to 11/10/2020G.
For more details, please
Click Here
08/10/2020
Al Rajhi Capital announces the availability of quarterly factsheet for
Al Rajhi REIT Fund for the period ended 30th September 2020
Al Rajhi Capital announces the availability of quarterly factsheet for
Al Rajhi REIT Fund for the period ended 30th September 2020. For more
details, please
Click Here
30/09/2020
AlRajhi Capital announces the occurrence of a material development
related to AlRajhi REIT Fund
AlRajhi Capital, the fund manager of AlRajhi REIT, has received a
letter via email from Fouzan Trading and General Contracting Company,
the master lessee of Narjees Plaza, Anwar Plaza and Rama Plaza,
stating that it is proceeding to court for either rent free period or
reducing the rent due to extra-ordinary circumstances that are beyond
their control due to which they are unable to fully benefit from the
intentions of the lease agreements.
Currently Narjees Plaza, Anwar Plaza and Rama Plaza all assets located
in Riyadh are leased to Fouzan Trading and General Contracting Company
on triple net basis at combined annual rent of 14.04 Mn per hijri year
(approx.. 14.47 Mn per Gregorian year). These 3 assets together
contribute 8.7% of total revenue of the fund.
The Fund Manager is ascertaining the validity of this letter and will
take all possible actions to protect the interest of unit holders.
As the situation is still evolving, and the outcome of this matter
shall be subject to court’s decision. The financial impact on fund’s
dividend can’t be fully ascertained at this time.
The Fund Manager shall immediately update the unitholders of any
material development arising in this matter
23/08/2020
Al-Rajhi Capital Announces a Change in the membership of the Board of
Directors of Al Rajhi REIT Fund
Al-Rajhi Capital announces a change in the Al-Rajhi REIT Fund Board,
due to the appointing of a new Fund Board member Mr. Saoud bin Mohamed
bin Abdulghani Sulaymani as independent member as of 04/01/1442H
corresponding to 23/08/2020G. Thus, the Board Fund members will be:
- Abdulaziz A. Al-Sabt (non-independent member)
- Ahmed Al Mohsen (non-independent member)
- Tarik Alsugair (non-independent member)
- Feras Alsaid (Independent member)
- Meshel Alshenaifi (Independent member)
-
Saoud bin Mohamed bin Abdulghani Sulaymani (Independent member)
23/08/2020
Al-Rajhi Capital announces updating the terms and conditions of the
Al-Rajhi REIT Fund
Al-Rajhi Capital announces updating the terms and conditions of the
Al-Rajhi REIT Fund, as of 04/01/1442H corresponding to 23/08/2020G.
For more details, please
Click Here
16/08/2020
Al Rajhi Capital announces the availability of Al Rajhi REIT Fund’s
semi-annual report for period ending 30th June 2020G
Al Rajhi Capital announces the availability of Al Rajhi REIT Fund’s
semi-annual report for period ending 9/11/1441H corresponding to 30th
June 2020G. For more details, please
Click Here
13/08/2020
Al Rajhi Capital announces the Interim financial statements of Al
Rajhi REIT Fund for the period 1st January 2020 to 30th June 2020
Al Rajhi Capital announces the Interim financial statements of Al
Rajhi REIT Fund, for the period 1st January 2020 to 30th June 2020.
The results are summarized below:
- Total Income: SAR 86,055,067
- Total Fees & Expenses: SAR 45,219,309
- Profit for the period before impairment: SAR 40,835,759
-
Provision of Impairment on Investment Properties: SAR (58,493,639)
-
Net Profit (Loss) for the period after impairment: SAR
(17,657,880)
- Net Asset Value: SAR 1,526,791,307
- No. of Units: 161,856,857 units
- Net Asset Value per Unit: SAR 9.76 (fair value)
- Total Dividends: SAR 45,319,919.96
- Dividend per unit: SAR 0.28
- Annualized Dividend Yield at par value: 5.6%.
Notes related to Financials:
-
Total Fees & Expenses include an amount in relation to profit
on outstanding loan facility
-
Funds from Operations (FFO) amounts to SAR 55,228,105 for the
period ended 30th June 2020; equivalent to SAR 0.34 per unit
-
Annualized Dividend Yield has been calculated on the par value
-
Total dividends paid are for the period 1st Jan 2020 to 30th June
2020
For more details about the Interim financial statements of Al Rajhi
REIT Fund, please
Click Here
10/08/2020
Al Rajhi Capital announces the availability of Al Rajhi REIT Fund’s
semi-annual valuation reports as at 30th June 2020.
The valuation was conducted by Olaat Valuation Company, Valustrat
Consulting, Whitecubes Real Estate who are all independent and
licensed valuers, registered with the Saudi Authority for Accredited
Valuers. For copy of the reports, please click below links:
06/08/2020
Al Rajhi Capital Announces distribution of cash dividend to the
unit-holders of Al Rajhi REIT Fund for the period 1st January 2020 to
30th June 2020
Al Rajhi Capital announces the distribution of cash dividend to the
unit-holders of Al Rajhi REIT Fund for the period 1st January 2020 to
30th June 2020 as per following:
- Total amount of dividend distribution = SAR 45,319,919.96
- No. of Eligible Units = 161,856,857
-
Dividend per Unit = SAR 0.28; dividend represents 2.8% of the Par
value
-
Dividend represents 2.82% of Net Asset Value (based on Fair Value
as of 05/05/1441H corresponding to 31/12/2019)
-
Eligibility of dividends shall be for unit-holders in the register
per Tadawul records as of 23/12/1441H corresponding to Thursday,
13/08/2020 (end of trading day on 21/12/1441H corresponding to
Tuesday 11/08/2020)
-
Dividends will be paid within 15 business days post the
eligibility date.
The Fund Manager wishes to remind the unit holders to update their
bank accounts to ensure depositing the outstanding dividend to their
accounts directly.
20/07/2020
Addendum Announcement from Al Rajhi Capital Regarding Al Rajhi Capital
Announcement about a material development related to Al Rajhi REIT
Fund.
Date of the previous announcement: 03-09-1441 H Corresponding to
26-4-2020 G
For more details about the previous announcement, please
Click
Here
In addition to Al-Rajhi Capital's announcement published on
03-09-144H corresponding to 26-04-2020 G. Al Rajhi Capital, the
Fund Manager of Al Rajhi REIT would like to inform the unitholders
the following:
-
The master lessee (Rawaj Real Estate Company) of Blue Tower
Building, AlKhobar and Luluah Warehouse, Riyadh has withdrawn
its notice of termination for lease contract of these
properties.
-
The master lessee of the above properties has agreed to follow
the provisions of the lease agreement signed by both parties
that includes rent review process.
The Fund Manager will follow the due process as per the lease
agreement provisions. The Fund Manager shall announce any material
development arising in this matter in due course of time.
14/07/2020
Al Rajhi Capital announces the availability of quarterly factsheet for
Al Rajhi REIT Fund for the period ended 30th June 2020
Al Rajhi Capital announces the availability of quarterly factsheet for
Al Rajhi REIT Fund for the period ended 30th June 2020. For more
details, please
Click Here
14/06/2020
Al-Rajhi Capital announces updating the terms and conditions of the
Al-Rajhi REIT Fund
Al-Rajhi Capital announces updating the terms and conditions of the
Al-Rajhi REIT Fund, as of 11/10/1441H corresponding to 03/06/2020G.
For more details, please
Click Here
We wish to clarify that the date of update 03/06/2020 represents the
date of the notice sent to the Capital Market Authority, according
to the requirements of the Capital Market Authority.
17/05/2020
Al-Rajhi Capital announces updating the terms and conditions of the
Al-Rajhi REIT Fund
Al-Rajhi Capital announces updating the terms and conditions of the
Al-Rajhi REIT Fund, as of 24/09/1441H corresponding to 17/05/2020G.
For more details, please
Click Here
17/05/2020
Al Rajhi Capital announces a specific event on Al Rajhi REIT Fund
(appointing an auditor for the fund)
Al Rajhi Capital announces the appointment of Alluhaid & Alyahya
Chartered Accountants as an auditor for Al Rajhi REIT Fund, with the
change to take effect on the date 24/09/1441 H corresponding to
17/05/2020 G.
-
Appointment of Alluhaid & Alyahya Chartered Accountants as an
auditor for Al Rajhi REIT Fund instead of PKF Al-Bassam &
Al-Nemer Allied Accountants.
- to be SR 55,000 annually.
We therefore inform you that this appointment will have no effect
other than what was published in this announcement.
26/04/2020
Al Rajhi Capital announces the occurrence of a material development
related to Al Rajhi REIT Fund.
Al Rajhi Capital, the Fund Manager of Al Rajhi REIT has received an
email stating notice of termination for lease contract of Blue Tower
Building, AlKhobar and Luluah Warehouse, Riyadh under force majeure
clause sighting COVID-19 pandemic situation in the Kingdom.
Currently Blue Tower Building, AlKhobar and Luluah warehouse, Riyadh
are leased on triple net basis to Rawaj Real Estate Company at an
annual rent of SAR 18.3 Mn and SAR 13.6 Mn respectively. Both these
assets together contribute SAR 31.9 Mn i.e. 19.4% of total revenue
of the fund.
The impact caused by the
event:
The Fund Manager is ascertaining the validity of this email notice
and believes that the lessee does not have right to terminate these
leases. The Fund Manager will take all possible actions including
legal action to protect the interest of unit holders.
As the situation is still evolving, the financial impact on fund’s
dividend can’t be ascertained at this time. The Fund Manager shall
periodically update the unitholders of any material development
arising in this matter in due course of time
22/04/2020
Addendum announcement from Al Rajhi Capital regarding Al Rajhi
Capital’s announcement about a material development related to Al
Rajhi REIT Fund.
Date of the previous announcement : 19-08-1441
Corresponding
to 12-4-2020
Previous announcement link:
Click here
n addition to Al Rajhi Capital's announcement published on 12-04-2020,
19-08-1441 H. Al Rajhi Capital would like to clarify, as mentioned on
the previous announcement that it has received several requests from
real estate tenants to either reduce, reschedule or suspend due rents
during the COVID-19 precautionary measures period. The 24-hour curfew
directive in the Kingdom, in addition to some other related decisions,
have impacted the business of its tenants in retail and commercial
properties.
To date, the total value of potential discounts requested is SAR 9.0
Mn i.e. 5.5% of total rent. Primary assessment of the Fund Manager is
as follows:
-
requests amounting to SAR 3.1 Mn (1.9 % of total rent) are directly
impacted by current pandemic situation and government orders and can
be potentially acceptable claims, so they are under further review.
-
request amounting to SAR 5.9 Mn (3.6% of total rent) are not
directly impacted and being evaluated on case by case basis and can
be potentially rejected
Since the situation is still evolving, there is a possibility of
further revisions in above stated numbers. The Fund Manager shall
submit its evaluations to Fund Board once the COVID-19 precautionary
measures are over. Fund Manager expects the business to be negatively
affected in short term by the continued economic fluctuations in
global and local markets. On other hand, recent drop in SAIBOR has
resulted in reducing the cost of loan servicing and should contribute
positively to the fund financial performance.
The Fund Manager is monitoring the situation closely and will
announce any material developments related to this matter in due
course of time.
15/04/2020
Al Rajhi REIT Fund announces the availability of its quarterly fact
sheet for the period ended 31st March 2020
Al Rajhi REIT Fund announces the availability of its quarterly Fact
Sheet for the period ended 31st March 2020. For more details,
please
Click Here
12/04/2020
AlRajhi Capital announces the occurrence of a material development
related to AlRajhi REIT Fund
AlRajhi Capital, the fund manager of AlRajhi REIT, received several
requests from real estate tenants to either reduce, reschedule or
suspend due rents during the COVID-19 precautionary measures period.
The 24-hour curfew directive in the Kingdom, in addition to some other
related decisions, have impacted the business of its tenants in retail
and commercial properties.
The impact caused by the
event:
Fund Manager expects the business to be negatively affected by the
continued economic fluctuations in global and local markets. It is
presently difficult to determine the full impact on the fund’s
performance, as there is still uncertainty over the timeframe for
COVID-19 precautionary measures,
Fund Manager is currently studying the situation and considering
various options to protect the interest of unitholders in accordance
with the Kingdom’s related laws and regulations.
The Fund Manager will continue to follow up on the developments and
will announce any material developments in due course of time.
22/03/2020
Al Rajhi Capital announces the availability of Al Rajhi REIT Fund
Annual Report for 2019
Al Rajhi Capital announces the availability of Al Rajhi REIT Fund’s
Annual Report for 2019, which includes an annual review of the Fund,
Fund performance details, Summary of Fund Board resolutions, the risk
assessment report and various portfolio highlights.
18/03/2020
Al Rajhi Capital announces the availability of the annual audited
financial statements of Al Rajhi REIT Fund for the year ended
31/12/2019
Al Rajhi Capital announces the availability of the annual audited
financial statements of Al Rajhi REIT Fund for the year ended
31/12/2019. Following is the summary of the financial results:
- Net Asset Value at end of the period: SAR 1,578,439,127
- Total Fees & Expenses for the period: SAR 61,125,742
- Net Profit for the period: SAR 56,104,033
- No. of Units at end of the period: 161,856,857 units
- Net Asset Value per Unit: SAR 9.91 (fair value)
- Annualized Dividend Yield at par value for the period : %5.3
- Total Income: SAR 117,229,775
- Total Dividends: SAR 73,094,134.9
Notes related to Financials:
-
During the year 2019, the Fund increased its total assets by
acquiring 4 new assets and issued 39,656,248 additional units. At
the end of the year, the total outstanding units are 161,856,857
(31.12.2018: 122,200,609)
-
Total Fees & Expenses include an amount in relation to profit on
outstanding loan Facility and depreciation expense
- Funds from Operations (FFO) amounts to SAR 74,038,740
-
Total dividends paid are for the period 1st Jan 2019 to 31st Dec
2019
For financial statement of Al Rajhi REIT Fund, please
Click Here
09/02/2020
Al-Rajhi Capital announces updating the terms and conditions of the
Al-Rajhi REIT Fund
Al-Rajhi Capital announces updating the terms and conditions of the
Al-Rajhi REIT Fund, as of 15/06/1441H corresponding to 09/02/2020G.
For more details, please
Click Here
09/02/2020
Al-Rajhi Capital announces a change in the Al-Rajhi REIT Fund Board
Al-Rajhi Capital announces a change in the Al-Rajhi REIT Fund Board,
due to the resignation of a Fund Board member Mr. Gaurav Shah -
Chairman of the Fund’s Board of Directors (non-independent member) as
of 15/06/1441H corresponding to 09/02/2020G. Thus, the Board Fund
members will be:
- Abdulaziz A. Al-Sabt (non-independent member)
- Ahmed Al Mohsen (non-independent member)
- Tarik Alsugair (non-independent member)
- Feras Alsaid (Independent member)
- Meshel Alshenaifi (Independent member)
09/02/2020
Al Rajhi Capital Announces distribution of cash dividend to the
unit-holders of Al Rajhi REIT Fund for the period 1st July 2019 to
31st December 2019
Al Rajhi Capital announces the distribution of cash dividend to the
unit-holders of Al Rajhi REIT Fund for the period 1st July 2019 to
31th December 2019 as per following:
- Total amount of dividend distribution = SAR 33,989,939.97
- No. of Eligible Units = 161,856,857
-
Dividend per Unit = SAR 0.21; dividend represents 2.1% of the Par
value
-
Dividend represents 2.11% of Net Asset Value (based on Fair Value
as of 05/05/1441H corresponding to 31/12/2019)
-
Eligibility of dividends shall be for unit-holders in the register
per Tadawul records as of 19/06/1441H corresponding to Thursday,
13/02/2020 (end of trading day on 17/06/1441H corresponding to
Tuesday 11/02/2020)
-
Dividends will be paid within 15 business days post the
eligibility date.
The Fund Manager wishes to remind the unit holders to update their
bank accounts to ensure depositing the outstanding dividend to their
accounts directly.
The dividend is affected by a). partial income of the 4 newly acquired
properties as part of asset increase process, which were acquired on
7th November 2019, 24th December 2019 and 25th December 2019 and b).
The provisions taken in H2 2019 for overdue rents filed as legal cases
to the extent of SAR 3.9 Mn
The dividend distribution for the second half of 2019 is not
reflective of full annualized income of these newly acquired
properties on the larger unit holder base due to issuance of new units
during asset increase process.
(H1 2019 no. of units: 122,200,609 and H2 2019 no. of units:
161,856,857)
The full income potential of the newly acquired properties, combined
with further stabilization of portfolio properties, should be
reflected during the first half of 2020
14/01/2020
Al Rajhi REIT Fund announces the availability of its quarterly fact
sheet for the period ended 31st December 2019
Al Rajhi REIT Fund announces the availability of its quarterly Fact
Sheet for the period ended 31st December 2019.
For more details, please
Click Here
31/12/2019
Al Rajhi Capital announces the availability of Al Rajhi REIT Fund’s
semi-annual valuation reports as at 31st Dec 2019.
The valuation was conducted by Olaat Valuation Company, Valustrat
Consulting, Whitecubes Real Estate, JLL and Knight Frank, who are all
independent and licensed valuers, registered with the Saudi
Authority for Accredited Valuers. For a copy of the reports, please
click the below links:
25/12/2019
Al Rajhi Capital announces acquisition of a 2 properties by Al Rajhi
REIT Fund
Al Rajhi Capital announces the completion of the acquisition of a 2
properties. i.e 1) Rowad AlKhaleej International School
located in Riyadh and 2) Baraem Rowad Al Khaleej Kindergarten located
in Riyadh by Al Rajhi REIT Fund which is part of
the approved process of increasing the total value of the Fund's
assets.
1. Rowad AlKhaleej International School located in Riyadh The
transaction has been completed on Wednesday 28/04/1441H
corresponding to 25/12/2019G. The purchase price of Rowad AlKhaleej
International School is SR 210 million. The purchase price is partly
paid through issuance of 11,685,867 in-kind units and balance by
cash. The property is located in the district of Al Mogarazat in
Riyadh, on Prince Muqurin Ibn Abdulaziz Street, Kingdom of Saudi
Arabia. The subject site comprises a regular shaped piece of land
measuring 15,959.90 sqm, with a total built-up area of 39,028 sqm.
The Property is fully leased to AlKhaleej Training and Education
Company, with an annual rent payment of SAR 16.275 million. The
annual rent will be increased by 7.5 % every five years. The lease
with AlKhaleej Training and Education Company is for a term of 15
years starting from the date of title transfer i.e. 25/12/2019
2. Baraem Rowad Al Khaleej Kindergarten located in Riyadh The
transaction has been completed on Wednesday 28/04/1441H
corresponding to 25/12/2019G The purchase price of Baraem Rowad Al
Khaleej Kindergarten is SR 20 million. The purchase price is
partly paid through issuance of 1,112,939 in-kind units and
balance by cashThe property is located in the Sahafa District,
Prince Abdullah Bin Saud Bin Abdullah Sneatan Al Saud Street in Al
Riyadh, Kingdom of Saudi Arabia. The subject site comprises a
regular shaped piece of land measuring 1,830 sqm, with a built-up
area of 2,549 sqm. The Property is fully leased to AlKhaleej
Training and Education Company, with an annual rent payment of SAR
1.55 million. The annual rent will be increased by 7.5 % every
five years. The lease with AlKhaleej Training and Education
Company is for a term of 15 years starting from the date of title
transfer i.e. 25/12/2019
Impact of the event: This acquisition is expected to have a
positive impact on Al Rajhi REIT’s financial performance going
forward.
Al Rajhi Capital confirms that there are no related parties in
the acquisition except the source of financing is from existing
debt facility from Al Rajhi Bank.
24/12/2019
Al Rajhi Capital announces a material development to Al Rajhi REIT
Fund
Al Rajhi Capital announces acquisition of a property by Al Rajhi REIT
Fund
Al Rajhi Capital announces the completion of the acquisition of a
property Rowad AlKhaleej International School located in Dammam by Al
Rajhi REIT Fund which is part of the approved process of increasing
the total value of the Fund's assets.
The transaction has been completed on Tuesday 27/04/1441H
corresponding to 24/12/2019G. The purchase price is SR 244.5 million,
which is partly paid through issuance of 13,605,688 in-kind units and
balance in cash.
The property is located in the district of Al Zuhur in the north east
of Dammam, Anas Ibn Malik Street, Kingdom of Saudi Arabia.
The subject site comprises a regular shaped piece of land measuring
20,213 sqm, with a built-up area of 25,797 sqm.
The Property is fully leased to AlKhaleej Training and Education
Company, with an annual rent payment of SAR 18.94 million. The annual
rent will be increased by 7.5% every five years. The lease with
AlKhaleej Training and Education Company is for a term of 15 years
starting from the date of title transfer i.e. 24/12/2019
This acquisition is expected to have a positive impact on Al Rajhi
REIT’s financial performance going forward. Al Rajhi Capital confirms
that there are no related parties in the acquisition except the source
of financing is from existing debt facility from Al Rajhi Bank.
19/12/2019
Al Rajhi Capital announces the results of public offering related to
Al Rajhi REIT Funds’ total asset value increase
Al Rajhi Capital announces the results of public offering for Al Rajhi
REIT total asset value Increase, that commenced on 15/4/1441H
corresponding to Thursday 12th December 2019 and ended on 21/4/1441H
corresponding to Wednesday 18th December 2019 as follows.
- Units offered: 16,853,933 units
- Units subscribed: 13,251,754 units
- Coverage: 78.63 %
- No. of subscribers: 16,031
- Amount subscribed: SAR 116,615,435.20
The Fund Manager will complete the allocation of units to unitholders
within 15 working days from the closing date of the offering period.
The Fund manager will complete the acquisition of 3 educational
properties from AlKhaleej Training and Education Company by
combination of in-kind units to be issued to Al Khaleej, using
public offering proceeds and availing financing facility of the Al
Rajhi REIT Fund.
19/12/2019
Al Rajhi Capital announces its participation in public offering
related to Al Rajhi REIT Funds’ total asset value increase
Al Rajhi Capital the Fund Manager of Al Rajhi REIT Fund announces that
it has subscribed for SAR 30 million equivalent to 20.23% cash
contribution available to public during the public offering period of
the Al Rajhi REIT’s total asset value increase program.
12/12/2019
Further to the announcement from Al Rajhi Capital regarding
subscription period for public offering related to Al Rajhi REIT
Funds’ total asset value increase
For more details about the previous announcement on 2019/12/05 -
1441/4/8
Click
Here
Clarify the allocation mechanism for units offered on the IPO &
charging process of Subscription fee
The allocation mechanism that the fund manager will follow to
allocate units to subscribers & is as follow:
-
The units offered on the IPO will be allocated first to the
registered unit holders on the day of the Unit Holders meeting
for increase the total value of the fund’s assets and that who
wish to participate in IPO on prorata’ basis, and then the
remaining units (if any) will be allocated to the rest of the
investors (Non unit holders) according to the fund manager’s
decision.
-
Subscription fee equal to 2% of the subscribed amount and is
payable by the investor in addition to the subscription
amount. This fee applies to new investors and is not
applicable to registered unit holders at the date of the unit
holders meeting. (i.e. registered at Securities Depository
Center (Edaa) by the end of the second trading day preceding
the meeting which held on 31st Oct 2019)
Therefore, the subscription fees will be returned to the
registered unit holders at the date of the unit holders
meeting.
For further details refer the allocation mechanism &
subscription fee mentioned in
Terms
And Conditions
05/12/2019
Al Rajhi Capital announces the subscription period for public offering
related to Al Rajhi REIT Funds’ total asset value increase
Al Rajhi Capital announces the subscription period for Al Rajhi REIT
total asset value Increase offering to commence on 15/4/1441H
corresponding to Thursday 12th December 2019 and end on 21/4/1441H
corresponding to Wednesday 18th December 2019.
IPO price is SAR 8.8 per unit. Participation in the total asset
value increase will be available to all investors, whether existing
unit holders (i.e. registered at Securities Depository Center (Edaa)
by the end of the second trading day preceding the meeting which
held on 31st Oct 2019) or new investors participating in this
offering.
The allotment ratio for existing unit holders at time of
subscription is 0.1379 i.e. Existing investor holding 10,000 units
is entitled to get 1,379 units.
For further details refer the allocation mechanism mentioned in
terms and conditions
The subscription will be available through Al Rajhi Bank and
Al Rajhi Capital through following channels:
- AlRajhi Capital investment Centers
- AlRajhi Bank ATMs
- AlRajhi Bank mobile application
For subscription details, please refer to the Terms and
Conditions of increasing the total asset value of the fund.
28/11/2019
Further to the announcement from Al Rajhi Capital regarding MoU signed
between Al Rajhi REIT Fund and Al Khaleej Training & Education for
the acquisition of 3 Educational properties
For more details about the previous announcement on 31/03/2019 -
1440/07/24
Click
Here
MoU’s validity has been extended with mutual consent of both parties
for a further period of 31 days until 31st December 2019. All the
terms and conditions of the MoU remain unchanged.
07/11/2019
Al Rajhi Capital announces a material development to Al Rajhi REIT
Fund
Al Rajhi Capital announces acquisition of a property by Al Rajhi REIT
Fund
Al Rajhi Capital announces the completion of the acquisition of a
property Al Salam NMC Hospital by Al Rajhi REIT Fund.
The transaction has been completed on Thursday 10/03/1441H
corresponding to 07/11/2019G. The purchase price is SR 163.77 million,
which is funded through the available shariah compliant debt facility
for Al Rajhi REIT.
Al Salam NMC Hospital is a 100 bed multispecialty hospital. The key
specialties are Obstetrics & Gynecology, Pediatrics, Internal
diseases, ENT Dept. & General Surgery. It is an independent
building consisting of two ground floors + 6 upper floors.
The Property is fully leased to Al Salam Medical Group, with an annual
rent payment of SAR 11.64 million. The annual rent will be increased
by 5 % (five percent) every five years. The current lease with Al
Salam NMC Hospital is for a term of 15.75 years starting from 1 April
2018 & the lease agreement is been assigned to Al Rajhi REIT Fund.
The property also has an additional income of SAR 70,000 from leasing
of optical shop and coffee shop within the premises of hospital. The
lease for both these shops has same escalations and term as that of
hospital.
Therefore the total annual income from the property currently is SAR
11.71 Million
This acquisition is expected to have a positive impact on Al Rajhi
REIT’s financial performance going forward. Al Rajhi Capital confirms
that there are no related parties in the acquisition except the source
of financing is from existing debt facility from Al Rajhi Bank.
The acquisition of the property is part of the process of increasing
the total value of the Fund's assets and has been funded entirely
through the available shariah compliant debt facility for Al Rajhi
REIT
03/11/2019
Al Rajhi Capital announces the results of the unitholders meeting
Al Rajhi Capital announces the results of the meeting of the owners of
Al Rajhi REIT Fund Units held at Al Rajhi Bank Tower on King Fahad
Road, Al Murooj District in Riyadh city at 5 pm on Thursday,
03/03/1441 corresponding to 31/10/2019 as following:
Unitholders approved the following agenda items
-
increase the Total Asset value of the Fund from SAR
(1,724,075,691) to maximum SAR (2,411,396,405) by acquiring new
real estate assets.
-
Approve the Fund’s revised terms and conditions. These includes
increase in the total value of the Fund's assets, the size of the
Fund, the number of units of the Fund, the definitions and risks
of the Fund, the mechanism to increase the total value of the
Fund's assets and the allocation mechanism.
30/10/2019
Further to the announcement from Al Rajhi Capital regarding MoU signed
between Al Rajhi REIT Fund and Al Khaleej Training & Education for
the acquisition of 3 Educational properties
For more details about the previous announcement on 31/03/2019 -
1440/07/24
Click
Here
MoU’s validity has been extended with mutual consent of both parties
for a further period of 31 days until 30th November 2019. All the
terms and conditions of the MoU remain unchanged.
03/10/2019
Al Rajhi REIT Fund announces the availability of its quarterly fact
sheet for the period ended 30 September 2019
Al Rajhi REIT Fund announces the availability of its quarterly Fact
Sheet for the period ended 30 September 2019.
30/09/2019
Further to the announcement from Al Rajhi Capital regarding MoU signed
between Al Rajhi REIT Fund and Al Khaleej Training & Education for
the acquisition of 3 Educational properties
For more details about the previous announcement on 31/03/2019 -
1440/07/24
Click
Here
MoU’s validity has been extended with mutual consent of both parties
for a further period of 30 days until 30th October 2019. All the terms
and conditions of the MoU remain unchanged.
01/08/2019
Al Rajhi Capital announces the availability of Al Rajhi REIT Fund’s
semi-annual report for period ending 30th June 2019G
Al Rajhi Capital announces the availability of Al Rajhi REIT Fund’s
semi-annual report for period ending 27/10/1440 H corresponding to
30th June 2019G
04/07/2019
Al Rajhi REIT Fund announces the availability of its quarterly fact
sheet for the period ended 30 June 2019
Al Rajhi REIT Fund announces the availability of its quarterly Fact
Sheet for the period ended 30 June 2019.
30/06/2019
Al Rajhi Capital announces the availability of Al Rajhi REIT Fund’s
semi-annual valuation reports as at 30th June 2019. The valuation was
conducted by Olaat Valuation Company, Valustrat Consulting and Whitecubes
Real Estate, who are all independent and licensed valuers, registered with
the Saudi Authority for Accredited Valuers. For a copy of the reports,
please click the below links:
08/05/2019
إعلان شركة الراجحي المالية عن تحديث شروط وأحكام صندوق الراجحي ريت
تعلن شركة الراجحي المالية عن تحديث شروط وأحكام صندوق الراجحي ريت وذلك
اعتباراً من تاريخ 23/08/1440هـ الموافق 28/04/2019م. وللإطلاع على
الشروط والأحكام المحدثة الرجاء
اضغط هنا
كما نوضح أن تاريخ التحديث 28/04/2019م يمثل تاريخ الإشعار المرسل إلى
هيئة السوق المالية، وذلك بحسب متطلبات هيئة السوق المالية. وأما بخصوص
التغييرات المهمة التي تمت على شروط وأحكام صندوق الراجحي ريت، فإن
سريان التغيير سيكون أعتباراً من تاريخ 25/09/1440هـ الموافق
30/05/2019م.
08/05/2019
إعلان شركة الراجحي المالية عن تفاصيل تغييرات مهمة في شروط وأحكام صندوق
الراجحي ريت
تعلن شركة الراجحي المالية عن تغييرات مهمة في شروط وأحكام صندوق
الراجحي ريت تتعلق بتغيير رسوم أمين الحفظ وأتعاب المحاسب القانوني
وإضافة أتعاب لـ أعضاء مجلس إدارة الصندوق المستقلين على أن يكون سريان
التغيير بتاريخ 25/09/1440هـ الموافق 30/05/2019م. وتفاصيل التغييرات
المهمة هي:
-
تغيير رسوم أمين الحفظ: من 100,000 ريال سعودي إلى 185,000 ريال
سعودي.
-
تغيير أتعاب المحاسب القانوني: من 30,000 ريال سعودي إلى 35,000
ريال سعودي.
-
إضافة أتعاب لـ أعضاء مجلس إدارة الصندوق المستقلين: 5,000 ريال
سعودي لكل عضو من أعضاء مجلس إدارة الصندوق المستقلين عن كل إجتماع
وبحد أقصى 20,000 ريال سعودي سنوياً لكل عضو مستقل.
28/04/2019
إعلان شركة الراجحي المالية عن تغييرات مهمة مقترحة على شروط وأحكام
صندوق الراجحي ريت
تعلن شركة الراجحي المالية عن تغييرات مهمة مقترحة على شروط وأحكام صندوق
الراجحي ريت تتعلق بتغيير رسوم أمين الحفظ وأتعاب المحاسب القانوني
وإضافة أتعاب أعضاء مجلس إدارة الصندوق المستقلين على أن يكون سريان
التغيير بتاريخ 25/09/1440هـ الموافق 30/05/2019. وسيقوم الصندوق
بالإعلان لاحقاً عن تفاصيل هذه التغييرات وذلك قبل سريان التغيير.
08/04/2019
Al Rajhi REIT Fund Announces the Availability of its Quarterly Fact
Sheet for the period ended 31 March 2019
Al Rajhi REIT Fund announces the availability of its quarterly Fact
Sheet for the period ended 31 March 2019.
28/03/2019
Al Rajhi Capital announces the availability of Al Rajhi REIT Fund
Annual Report for 2018
Al Rajhi Capital announces the availability of Al Rajhi REIT Fund’s
Annual Report for 2018, which includes an annual review of the Fund,
Fund performance details, Summary of Fund Board resolutions, the risk
assessment report, the Fund Manager’s market perspective and various
portfolio highlights.
10/03/2019
Al Rajhi REIT Fund Announces the Availability of its Quarterly Fact
Sheet for the period ended 31 December 2018
Al Rajhi REIT Fund announces the availability of its quarterly Fact
Sheet for the period ended 31 December 2018.
06/01/2019
Al Rajhi Capital announces the availability of Al Rajhi REIT semi-annual
valuation reports as at 31st December 2018. The reports were conducted by
Olaat Valuation Company, Barcode Company Limited, Valustrat Consulting and
Whitecubes Real Estate who are all independent and licensed valuers,
registered with the Saudi Authority for Accredited Valuers.
18/12/2018
إعلان شركة الراجحي المالية عن تحديث شروط وأحكام صندوق الراجحي ريت
تعلن شركة الراجحي المالية عن تحديث شروط وأحكام صندوق الراجحي ريت وذلك
اعتباراً من تاريخ 10/04/1440هـ الموافق 17/12/2018م كما يمكن الاطلاع
على الشروط والأحكام المحدثة من خلال الرابط الآتي:
للاطلاع على الشروط
والأحكام المحدثة الرجاء
اضغط هنا
17/12/2018
تعلن شركة الراجحي عن تغيير في عضوية مجلس إدارة صندوق الراجحي
ريت
تعلن شركة الراجحي المالية عن تغيير في عضوية مجلس إدارة صندوق الراجحي ريت
بسبب استقالة عضو مجلس الإدارة الأستاذ / خالد بن حمد البسام كعضو مستقل وذلك
أعتباراً من تاريخ 10/04/1440هـ الموافق 17/12/2018م ليصبح أعضاء مجلس إدارة
الصندوق بعد التغيير:
- قوراف شاه (رئيس مجلس إدارة الصندوق- عضو غير مستقل)
- عبدالعزيز بن علي السبت (عضو غير مستقل)
- احمد بن عبدالرحمن المحسن (عضو غير مستقل)
- طارق بن ابراهيم الصقير (عضو غير مستقل)
- فراس بن صالح السعيد (عضو مستقل)
- مشعل بن ابراهيم الشنيفي (عضو مستقل)
05/12/2018
إعلان إلحاقي من (شركة الراجحي المالية) بخصوص إعلان صندوق الراجحي ريت عن
تعيين عضو مجلس إدارة
إلحاقاً للإعلان المنشور بتاريخ 04-12-2018 بخصوص أعلان شركة الراجحي المالية
عن تغيير في عضوية مجلس إدارة صندوق الراجحي ريت بسبب تعيين عضو مجلس الإدارة
الأستاذ / مشعل بن ابراهيم الشنيفي كعضو مستقل وذلك أعتباراً من تاريخ
26/03/1440هـ الموافق 04/12/2018م، وعليه يود صندوق الراجحي ريت أن يُفيدكم
بأنه تم إستلام موافقة هيئة السوق المالية على تعيين العضو المستقل الأستاذ /
مشعل بن ابراهيم الشنيفي بتاريخ 26/03/1440هـ الموافق 04/12/2018م. فيما عدا
ذلك، تؤكد شركة الراجحي المالية بأنه لا يوجد أي تغيير أساسي حاصل على
الإعلان السابق بموجب هذا الإعلان الإلحاقي.
04/12/2018
إعلان شركة الراجحي المالية عن تحديث شروط وأحكام صندوق الراجحي
ريت
تعلن شركة الراجحي المالية عن تحديث شروط وأحكام صندوق الراجحي ريت وذلك
اعتباراً من تاريخ 26/03/1440هـ الموافق 04/12/2018م كما يمكن الاطلاع على
الشروط والأحكام المحدثة من خلال الرابط الآتي:
للمزيد من التفاصيل
04/12/2018
تعلن شركة الراجحي عن تغيير في عضوية مجلس إدارة صندوق الراجحي
ريت
تعلن شركة الراجحي المالية عن تغيير في عضوية مجلس إدارة صندوق الراجحي ريت
بسبب تعيين عضو مجلس الإدارة الأستاذ / مشعل بن ابراهيم الشنيفي كعضو مستقل
وذلك أعتباراً من تاريخ 26/03/1440هـ الموافق 04/12/2018م ليصبح أعضاء مجلس
إدارة الصندوق بعد التغيير:
- قوراف شاه (رئيس مجلس إدارة الصندوق- عضو غير مستقل)
- عبدالعزيز بن علي السبت (عضو غير مستقل)
- احمد بن عبدالرحمن المحسن (عضو غير مستقل)
- طارق بن ابراهيم الصقير (عضو غير مستقل)
- خالد بن حمد البسام (عضو مستقل)
- فراس بن صالح السعيد (عضو مستقل)
- مشعل بن ابراهيم الشنيفي (عضو مستقل)
11/11/2018
إعلان شركة الراجحي المالية عن تحديث شروط وأحكام صندوق الراجحي
ريت
تعلن شركة الراجحي المالية عن تحديث شروط وأحكام صندوق الراجحي ريت وذلك
اعتباراً من تاريخ 22/02/1440هـ الموافق 31/10/2018م كما يمكن الاطلاع على
الشروط والأحكام المحدثة من خلال الرابط الآتي:
للمزيد من
التفاصيل
04/11/2018
تعلن شركة الراجحي المالية عن تغيير في عضوية مجلس إدارة صندوق الراجحي
ريت
تعلن شركة الراجحي المالية عن تغيير في عضوية مجلس إدارة صندوق الراجحي ريت
بسبب تعيين عضو مجلس الإدارة الأستاذ / طارق بن ابراهيم الصقير كعضو غير
مستقل وذلك أعتباراً من تاريخ 22/02/1440هـ الموافق 31/10/2018م ليصبح أعضاء
مجلس إدارة الصندوق بعد التغيير:
- قوراف شاه (رئيس مجلس إدارة الصندوق- عضو غير مستقل)
- عبدالعزيز بن علي السبت (عضو غير مستقل)
- احمد بن عبدالرحمن المحسن (عضو غير مستقل)
- طارق بن ابراهيم الصقير (عضو غير مستقل)
- خالد بن حمد البسام (عضو مستقل)
- فراس بن صالح السعيد (عضو مستقل)
31/10/2018
Al Rajhi Capital announces acquisition of a property by Al Rajhi REIT
Fund
Al Rajhi Capital announces the completion of the acquisition of a property
known as Lulu Central Logistics by Al Rajhi REIT Fund. The transaction has
been completed on Wednesday 22/02/1440H corresponding to 31/10/2018G. The
purchase price is SR 52.250 million, which is funded through the available
shariah compliant debt facility for Al Rajhi REIT. Lulu Central Logistics
is purpose built high specification warehouse facility and is located at
Al Kharj Road, Industrial Gate City, Riyadh. It has a land area of
23,716.29 sq.mtrs and a built up area of 16,500 sq. mtrs. The property has
a dry warehouse that is automated with state of the art fittings and
fixture and also has a cold storage facility and repacking unit within it.
The Property is fully leased to Lulu Saudi Hypermarkets LLC, with an
annual rent payment of SAR 3.795 million. The annual rent will be
increased by 12 % (twelve percent) every five years. The current lease
with Lulu Saudi Hypermarkets LLC is for a term of 15 years starting from
16th Dec 2016. This acquisition is expected to have a positive impact on
Al Rajhi REIT’s financial performance going forward. Al Rajhi Capital
confirms that there are no related parties in the acquisition except the
source of financing is from existing debt facility from Al Rajhi Bank.
01/10/2018
Al Rajhi Capital announces signing of a SAR 500m shariah-compliant
banking facility for Al Rajhi REIT
Al Rajhi Capital acting in capacity as Fund Manager for Al Rajhi REIT (the
“REIT”) is pleased to announce that it has secured a SAR 500 million
shariah-compliant financing facility agreement with Al Rajhi Bank with the
following terms:
- Borrower: Al Rajhi REIT
- Facility agreement was signed on 1st October 2018
- Loan Amount SAR 500m
- Drawdown up to 30th June 2019
-
During the tenure of the facility, profit will be serviced on a
quarterly basis in arrears with a bullet principal repayment at the end
of the contractual period of 7 years.
-
The financing was obtained by providing a promissory note and property
mortgage
This Term Loan Program will be used to fund the acquisition of various
income generating real estate assets by the REIT in line with its
strategy.
17/09/2018
إعلان شركة الراجحي المالية عن تحديث شروط وأحكام صندوق الراجحي
ريت
تعلن شركة الراجحي المالية عن تحديث شروط وأحكام صندوق الراجحي ريت وذلك
اعتباراً من تاريخ 07/01/1440هـ الموافق 17/09/2018م كما يمكن الاطلاع على
الشروط والأحكام المحدثة من خلال الرابط الآتي:
للمزيد من
التفاصيل
15/08/2018
Al Rajhi Capital announces the availability of Al Rajhi REIT Fund’s
investor report for period ending 30th June 2018G.
Al Rajhi Capital announces the availability of Al Rajhi REIT Fund’s
investor report for period ending16/10/1439 H corresponding to 30th June
2018G. For a copy of the report, please click on the link below:
For more details
25/07/2018
Al Rajhi Capital announces the availability of Al Rajhi REIT semi-annual
valuation reports as at 30th June 2018. The reports were conducted by
Olaat Valuation Company, Barcode Company Limited and Valustrat Consulting
who are all independent and licensed valuers, registered with the Saudi
Authority for Accredited Valuers.
01/08/2018
إعلان شركة الراجحي المالية عن إتاحة التقرير المالي الأولي صندوق الراجحي
ريت للفترة المنتهية في 30 يونيو 2018 للجمهور (ثلاثة اشهر واثنى عشر
يوم)
- صافي الأصول 1146.94 مليون ريال سعودي
- إجمالي المصاريف والاتعاب 16.87 مليون ريال سعودي
- صافي الربح 20.37 مليون ريال سعودي
- عدد الوحدات القائمة 122.20 مليون وحدة
- صافي قيمة الوحدة 9.39 ريال سعودي
- صافي العائد 1.85 نسبه مئوية
- اجمالي توزيعات الأرباح 21.24 مليون ريال سعودي
-
مجموع الرسوم والمصروفات تتضمن مبلغ الربح المدفوع والخاص بتمويل المرابحة
القائم حالياَ صافي الربح للفترة المنتهية في 30 يونيو يعادل 0.17 ريال
سعودي لكل وحدة
-
بلغ الدخل من العمليات 25.87 مليون ريال سعودي عن الفترة المنتهية في 30
يونيو أي ما يعادل0.21 ريال سعودي لكل وحدة
-
تم حساب صافي العائد على أساس صافي قيمة الأصول بناء على القيمة العادلة
كما في 30 يونيو 2018 إجمالي توزيعات الأرباح المدفوعة هي للفترة المنتهية
في 30 يونيو 2018
لا يوجد اي مقارنة تخص فترة سابقة للصندوق حيث ان هذه النتائج تعد نتائج
افتتاحية وللحصول على نسخة من القوائم المالية الأولية يمكنكم زيارة الرابط
أدناه
للمزيد من
التفاصيل
25/07/2018
تعلن شركة الراجحي المالية عن إتاحة تقارير التقييم النصف سنوية لصندوق
الراجحي ريت عن النصف الاول من عام 2018م، المعدة من قبل مقيِمين مستقلين
ومرخصين من الهيئة السعودية للمقيِمين المعتمدين: شركة أولات للتقييم، وشركة
باركود المحدودة، وشركة فاليوسترات للاستشارات.
15/07/2018
Al Rajhi Capital announces the distribution of cash dividend to the
unit-holders of Al Rajhi REIT Fund the REIT for the period ended 30th
June 2018 as per following
- Total amount of dividend distribution = SAR 21,242,149
- . No. of Eligible Units = 122,200,609
-
Dividend per Unit = SAR 0.174; dividend represents 1.74% of the Par
value
-
Dividend represents 1.85% of Net Asset Value (based on Fair Value as of
16/10/1439H corresponding to 30/06/2018)
-
Eligibility of dividends shall be for unit-holders in the register per
Tadawul records as of 5/11/1439H corresponding to Wednesday, 18/07/2018
- Dividends will be paid by 31st July 2018
The Fund Manager wishes to remind the unit holders to update their bank
accounts to ensure depositing the outstanding dividend to their accounts
directly.
03/07/2018
إعلان شركة الراجحي المالية عن تحديث شروط وأحكام صندوق الراجحي
ريت
تعلن شركة الراجحي المالية عن تحديث شروط وأحكام صندوق الراجحي ريت وذلك
اعتباراً من تاريخ 18/10/1439هـ الموافق 02/07/2018م كما يمكن الاطلاع على
الشروط والأحكام المحدثة من خلال الرابط الآتي:
للمزيد من
التفاصيل
07/06/2018
إعلان شركة الراجحي المالية عن تغيير في عضوية مجلس إدارة صندوق الراجحي
ريت
تعلن شركة الراجحي المالية عن تغيير في عضوية مجلس إدارة صندوق الراجحي ريت
بسبب استقالة عضو مجلس الإدارة الأستاذ / عبد الكريم البواردي كعضو غير مستقل
وذلك أعتباراً من تاريخ 23/09/1439هـ الموافق 07/06/2018م ليصبح أعضاء مجلس
إدارة الصندوق بعد التغيير:
- قوراف شاه ( رئيس مجلس الصندوق)
- عبدالعزيز بن علي السبت (عضو غير مستقل)
- احمد بن عبدالرحمن المحسن (عضو غير مستقل)
- خالد بن حمد البسام (عضو مستقل)
- فراس بن صالح السعيد (عضو مستقل)
03/05/2018
إعلان شركة الراجحي المالية عن تحديث شروط وأحكام صندوق الراجحي
ريت
تعلن شركة الراجحي المالية عن تحديث شروط وأحكام صندوق الراجحي ريت وذلك
اعتباراً من تاريخ 06/08/1439هـ الموافق 22/04/2018م كما يمكن الاطلاع على
الشروط والأحكام المحدثة من خلال الرابط الآتي:
للمزيد من
التفاصيل
24/04/2018
إعلان شركة الراجحي المالية عن تغيير في عضوية مجلس إدارة صندوق الراجحي
ريت
تعلن شركة الراجحي المالية عن تغيير في عضوية مجلس إدارة صندوق الراجحي ريت
بسبب تعيين عضو مجلس الإدارة الأستاذ / احمد بن عبدالرحمن المحسن كعضو غير
مستقل وذلك أعتباراً من تاريخ 06/08/1439هـ الموافق 22/04/2018م ليصبح أعضاء
مجلس إدارة الصندوق بعد التغيير:
- قوراف شاه ( رئيس مجلس الصندوق)
- عبدالعزيز بن علي السبت (عضو غير مستقل)
- عبدالكريم بن عبدالله البواردي (عضو غير مستقل)
- احمد بن عبدالرحمن المحسن (عضو غير مستقل)
- خالد بن حمد البسام (عضو مستقل)
- فراس بن صالح السعيد (عضو مستقل)
