CMA approves subscription results of Oman REIT Fund

Business Thursday 18/February/2021 14:43 PM
By: Times News Service
CMA approves subscription results of Oman REIT Fund

Muscat: The Capital Market Authority (CMA) announced the approval of the results of subscription of Oman REIT Fund. Nearly 49,943,500 units were subscribed at OMR5 million out of 261,943,500 units offered for subscription. CMA consented to allocate the units at 100 per cent.

Oman REIT Fund offered 40 per cent of its OMR65 million capital at an issue price 120 baisas comprising 100 baisas per unit and 2 baisas issue expenses.

Real estate portfolio of the fund comprises 20 properties including residential and commercial units, offices and logistics services scattered throughout the Sultanate. The prospectus provides the assets converted into investment units in the fund are income generating assets.

REIT funds provide several investment options for investors allowing the companies and individuals to invest in properties through holding investment units in the fund beside permitting foreign investors to own investment unit in the fund to attract foreign capital to national economy.