The units of Aman Real Estate Investment Fund — the first Real Estate Investment Fund (REIF / REIT) in the Sultanate — will be listed on the MSM on Sunday, March 15, the Capital Market Authority (CMA) announced here on Monday.
Subscriptions into the Fund had closed on March 1, 2020 after two sets of extensions to allow for customers to consider investing in the maiden REIT. Subscriptions covered 50 per cent of the 100 million units offered for public subscription at a total value of RO 10 million.
Aman will distribute 90 per cent of the net income to investors holding units in the fund at 7 per cent dividend in two semi-annual payments. Aman offered 25 per cent of the assets of Sandan Industrial Estate at Halban, which is owned by Sandan Development. The company agreed to the lease of the properties for five years.
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