Tadawul has announced the listing and trading of “Riyad REIT,” Tadawul’s first listed REIT, starting 13 November 2016. Riyad REIT has five operational assets with a combined acquisition value of SAR420mn, and one under development. NLA is at 46,000 sqm, with an additional 25,000 sqm currently underway. The number of tenants is 84. The average lease term is 7.5 years; passing rate is SAR34mn, while the average occupancy rate is 94%. Its Tadawul symbol will be 4330, to be added to the Real Estate Investment Traded Funds (REITs) sector. It will trade with a 10% daily price fluctuation limit per unit, via the same mechanism of equity trading. (Tadawul)
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