By: Mohamed Idris
Riyadh – Mubasher: There are no plans to offer additional real estate funds during the coming period, but there is an expectation for Riyad REIT fund to grow, as such funds have no growth ceiling, Riyad Capital's CEO, Ali Al-Gwaiz told Mubasher.
Al Gwaiz added, on the sidelines of listing Riyad REIT fund ceremony, that he thinks that Tadawul has no objection to list another fund.
Riyad REIT fund is free of debts and fully financed from a SAR 500 million capital, adding that the fund has the capability to expand without any capital increase request, the CEO noted.
Moreover, Al Gwaiz pinpointed that the fund has the privilege to borrow about 50% of the total value of its assets; noting that the fund is expected to increase its assets volume through acquiring current real estates or offering right issue shares.
Riyad Capital CEO states that the fund is still investing in the local market and has no external investments.
Translated by: Sara Ghali
