Muscat Stock Exchange Welcomes Jabal Real Estate Investment Fund

The Muscat Stock Exchange (MSX) witnessed a significant development on July 10, 2024, with the listing of the Jabal Real Estate Investment Fund (Jabal REIF). This listing marks the culmination of a successful Initial Public Offering (IPO) conducted by Jabal Asset Management, a Muscat-based investment firm.

Jabal REIF boasts a capital of OMR 17. 4 million, divided into 174 million units priced at 100 Baisas each. The subscription period for the fund, which ran from June 13 to June 27, 2024, garnered overwhelming investor interest, exceeding the minimum target capital on its opening day itself.

Designed to cater to a diverse investor base, Jabal REIF is structured as a closed-ended fund in accordance with Real Estate Investment Fund (REIF) regulations set forth by the MSX. The fund's primary objective is to invest in a portfolio of high-quality, income-generating commercial properties occupied by reliable tenants. This strategic focus aims to provide investors with a steady stream of returns.

The listing ceremony held at the MSX Hall was a momentous occasion, attended by representatives from the Financial Services Authority (FSA), the MSX, and Jabal REIF. This event signifies a positive development for Oman's real estate sector, as it facilitates increased accessibility for investors seeking exposure to the country's promising property market.

Jabal REIF's successful IPO and listing on the MSX is a testament to the growing confidence in Oman's real estate landscape. The fund's well-defined investment strategy and focus on income-generating assets are likely to attract a broad range of investors seeking stable returns. This development is expected to contribute to the further growth and vibrancy of Oman's capital markets.

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