Jabal Real Estate Fund, the newest Real Estate Investment Fund Trust (REIT) in Oman, has announced the start of its Initial Public Offering (IPO). The IPO will be open for subscription from June 13, 2024, to June 27, 2024.
Managed by Jebel Investment Fund (Under Formation), the fund plans to initially offer 138 million units, with the option to increase it to 174 million units based on demand. Each unit is priced at 102 Baisas, and the minimum subscription requirement is 1,000 units with multiples thereafter. Interested investors can subscribe through Sohar Bank, Bank Muscat, and the National Bank of Oman.
This public offering signifies a significant milestone for Jabal Real Estate Fund, as it provides investors with a diversified portfolio that aims to generate attractive returns. The initial portfolio includes prominent assets like the Sama Building and the Barka Warehouse, with ambitious plans for future expansion.
Investors in the Jabal Real Estate Fund can anticipate quarterly dividend distributions, subject to the availability of profits and cash flow. The fund projects an annual investment return of 6% for the years 2025 and 2026, making it an appealing opportunity for both local and international investors.
Prospective investors are advised to carefully review the fund's prospectus to make well-informed decisions. The comprehensive prospectus can be accessed online through the Muscat Securities Market website (https://www.msx.om/) and the Jabal Real Estate Fund's website (https://jabalomar.com.sa).
The initiation of the public offering by Jabal Real Estate Fund demonstrates the rising confidence in Oman's real estate market. Supported by a strategic asset portfolio, promising returns, and regular dividend distributions, the fund is set to attract significant interest from investors aiming to benefit from the growing opportunities in the Sultanate's real estate sector.
