Oman REIT Fund is planning an initial public offering that could raise about $100m, in what could be the biggest-ever listing of a property trust in the sultanate, people with knowledge of the matter said.
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It aims to offer an annual dividend yield of about 7 per cent, the people said. Muscat-based United Securities LLC is managing the offering, the people said.
The potential deal could rank as the country’s largest REIT IPO since the Capital Markets Authority set up regulations for such listings in 2018.
Aman Real Estate Investment Fund, which started trading on the Muscat bourse earlier this year, was the first to take advantage of the new rules.
Shumookh Fund Management confirmed that it has filed a draft prospectus for the IPO with Oman’s market regulator and is awaiting approval. A representative for United Securities declined to comment.
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