Jadwa REIT Al Haramain Fund

The Jadwa REIT Al Haramain Fund is a Shariahcompliant closedended real estate investment trust designed for public trading Its core strategy involves acquiring real estate within the sacred cities of Makkah Al Mukarramah and Al Madinah Al Munarawah This fund adheres strictly to the Real Estate Investment Funds Regulations and REIT Funds Instructions set forth by the Capital Market Authority CMA and is officially listed on Tadawul with its units trading according to the exchanges regulations Initially the fund was established with 66000000 units each valued at SAR 10 and is structured to operate for a duration of 99 years with potential extensions at the Fund Managers discretion subject to CMA approval The principal aim of the REIT is to generate consistent income for its unitholders by investing in properties that produce rental revenue The fund anticipates distributing cash dividends biannually targeting no less than 90 of its net profits Its important to note that capital gains realized from asset sales or other investments are excluded from this distribution and may be reallocated towards acquiring additional properties or funding maintenance and improvements for existing assets Management of the REIT is handled by Jadwa Investment Company This entity is a closed jointstock company operating under Saudi Arabian law authorized by the CMA license 0603437 per Resolution No 1832005 to function as an Authorized Person Jadwa Investment itself is a leading Shariahcompliant investment bank based in Riyadh Saudi Arabia offering a wide array of services including asset management advisory corporate finance brokerage and custody Its investment team consists of seasoned experts from the asset management and investment banking sectors The funds adherence to Shariah principles is ensured by Jadwa Investment Companys dedicated Shariah Board which is led by HE Sheikh Dr Abdulla Al Mutlaq and includes Sheikh Dr Muhammad Ali bin Ibrahim Al Qari bin Eid Sheikh Bader Abdulaziz Al Omar and Sheikh Ahmed Abdulrahman Al Gaidy as members