Oman REIT Fund is planning the sultanate’s biggest property trust IPO

Photo: Silas Baisch / Unsplash

28 October, 2020

Oman REIT Fund is planning an initial public offering that could raise about $100 million, in what could be the biggest-ever listing of a property trust in the Gulf sultanate, people with knowledge of the matter said.The REIT, managed by Shumookh Fund Management LLC, plans to seek a valuation of $170 million or more, according to the people, who asked not to be identified because the information is private. It aims to offer an annual dividend yield of about 7%, the people said.

Muscat-based United Securities LLC is managing the offering, the people said. The REIT’s portfolio will include residential, commercial, office and logistics properties contributed by local companies and pension funds, according to the people.

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Oman REIT Fund is planning the sultanate’s biggest property trust IPO

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Oman REIT Fund is planning the sultanate’s biggest property trust IPO

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Oman India Joint Investment Fund II buys 1.63% stake in DCB Bank

India's Jindal Steel and Power to sell Oman unit for more than $1 b