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The REIF-III Real Estate Income Fund is a closed-end, medium-term fund established as a contractual arrangement between the Fund Manager and investors pursuant to the Real Estate Investment Funds regulations and Investment Funds regulations issued by the Capital Market Authority. Its purpose is to purchase income generating properties in prime locations in Saudi Arabia's main cities, lease them for a specific period, followed by the properties' sale.
The Fund Manager shall invest the Fund's capital to purchase one or several residential compounds that were offered to the Fund Manager, located in Riyadh and the other main cities of the Kingdom. The properties will then be leased for a specific period, determined to be five years, followed by properties' sale with the objective of realizing superior operational returns, as well as capital gains for investors.
For further details contact Itqan Capital.