Riyadh – Mubasher: SNB Capital has announced an update to the terms and conditions of Al Ahli REIT Fund 1 effective 16 September.
The amendment primarily concerns a restructuring of the fund’s board of directors following the appointment of Faisal Al Nasser as a non-independent member.
The fund, which has a total asset value of SAR 2 billion as of 31 December 2025, operates with a 99-year duration from its listing date.
Under its investment strategy, the fund maintains a minimum allocation of 75% and a maximum of 100% in developed, income-generating real estate assets.
Its current portfolio includes major holdings such as Al Andalus Mall and Al Andalus Mall Hotel in Jeddah, acquired for a combined SAR 1.35 billion, alongside Salama Tower and Cubic Plaza.
The fund manager, SNB Capital, confirmed that the updated terms also maintain the existing fee structure, including an annual management fee of 1% of the total asset value.
Al Ahli REIT Fund 1 currently has 137.50 million units issued, with 30% of these units held by the public. The fund is permitted to obtain Sharia-compliant financing up to 50% of its total asset value.
