Mulkia Gulf Real Estate REIT Fund

What Mulkia Gulf Real Estate REIT Fund does

Mulkia Gulf Real Estate REIT Fund is a Sharia-compliant, closed-end public traded real estate investment trust fund established on November 5, 2017, in Riyadh, Saudi Arabia, and listed on the Saudi Exchange (Tadawul) under symbol 4336. The fund is sponsored and managed by Mulkia Investment Company (parent company capital of SAR 90 million) and is structured to acquire, own, and operate income-generating real estate assets within Saudi Arabia, distributing a minimum of 90% of net profits to unitholders in accordance with REIT regulations and Sharia principles.

The fund's underlying portfolio comprises 12 or more income-generating properties across Saudi Arabia, including West Avenue Mall in Dammam, Elite Mall, and the Al-Jadida Commercial Hotel Complex, the latter operated under the Radisson Blu brand. The asset mix spans retail mall real estate and an operated hospitality asset, indicating diversification across commercial real estate verticals. The fund entered into developer partnerships with Rawasi Real Estate Company and First Avenue Real Estate Development Company in November 2025 to broaden its asset sourcing pipeline, and expanded its capital base from SAR 78 million to SAR 90 million in July 2026.

Operationally, the fund has undergone a leadership transition: Omar bin Abdulkarim Al Othaim resigned as CEO, Sultan bin Muhammad Al-Hadithi served as acting CEO until June 30, 2026, and Salam bin Zaki Al Kinhaizi was appointed CEO effective July 1, 2026. As a closed-end listed REIT, the fund does not raise capital continuously; rather, its growth is driven by asset acquisitions funded through equity, Sharia-compliant debt, and reinvestment of retained profits within the regulatory 90% distribution framework. Revenue is not disclosed in the input data, and there is no indication of proprietary technology, AI/ML capabilities, or digital platform architecture — the value proposition is anchored in physical asset ownership, regulatory structuring, and yield distribution.

Name

Mulkia Gulf Real Estate REIT Fund

Legal name

Mulkia Gulf Real Estate REIT Fund (صندوق مُلكية عقارات الخليج ريت)

Website

https://mulkia.com.sa

Company type

Public

Founded year

2017

Operating status

Operating

Headcount range

51–100 employees

Short description

Mulkia Gulf Real Estate REIT Fund is a Sharia-compliant closed-end public REIT listed on the Saudi Exchange (Tadawul, symbol 4336), managing 12+ income-generating retail and hospitality properties in Saudi Arabia and distributing at least 90% of net profits to unitholders.

Ownership category

akta.pro rank

Product category

Real Estate Investment Trust (REIT)

NAICS

Other Financial Vehicles (525990), Other Financial Vehicles (52599)

SIC

Real Estate Investment Trusts (6798)

akta.pro primary industry

REITs & Listed Real Estate Securities (FSAAAKAD)

akta.pro secondary industry

Real Estate Funds — Core (Stabilized, Income) (FSANAEAF)

Keywords

• Shariah-compliant REIT
• Real estate investment trust
• Saudi property fund
• Rental income distribution
• Exchange-traded fund

Headquarters

HQ city

Riyadh

HQ country

Saudi Arabia

HQ region

Middle East

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Operations, Personnel, Marketing or Sales, Others

Revenue model

1. Rental Income: The fund generates periodic rental income from its portfolio of developed real estate assets located in Saudi Arabia. Properties include commercial malls, hotels, and other income-generating real estate. The fund distributes at least 90% of net rental profits to unit holders.

Pricing tiers

Go-to-market motion1 record

Distribution channels2 records

Marketing channels4 records

Core offering

Mulkia Gulf Real Estate REIT Fund is a Shariah-compliant, publicly traded closed-end real estate investment trust listed on the Saudi Exchange (Tadawul:4336). The fund acquires and holds developed, income-generating real estate assets in Saudi Arabia — including commercial malls (e.g., West Avenue), hotels (e.g., Al-Jadida Commercial Hotel Complex operated by Radisson Blu), and retail properties — and distributes at least 90% of its net rental profits to unitholders on a periodic basis.

Product overview

Mulkia Gulf Real Estate REIT Fund operates as part of Mulkia Investment Company's product portfolio, which offers a comprehensive suite of investment products. The main product is the Mulkia Gulf Real Estate REIT Fund - a publicly traded Shari'ah-compliant REIT that acquires developed income-generating real estate across Saudi Arabia. Complementing the REIT are money market products (Mulkia Murabaha and Saving Fund), private real estate development funds (Qurtoba, Makkah), the Aljawhara fund, and specialty funds covering REITs, equities, and private IPOs. The company also manages individual real estate assets including Elite Mall, West Avenue commercial center, and various retail and hospitality properties. The ecosystem enables investors to access diversified real estate and capital market products ranging from liquid public funds to closed private equity structures.

Differentiator

Problem solved

Functional benefit

Products and services

• Mulkia Gulf Real Estate REIT Fund A Shariah-compliant publicly traded closed-end REIT that acquires developed income-generating real estate assets in Saudi Arabia (commercial malls, hotels, retail properties) and distributes at least 90% of net rental profits to unitholders. Designed for individual and institutional investors seeking Shariah-compliant real estate exposure with exchange liquidity.

Quantifiable outcome

• Minimum 90% distribution of net rental profits to unit holders

Named customers1 record

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Three partnerships are on record, tiered minor and core.

• Rawasi Real Estate CompanyminorStrategic or Co-development Partner · 1 November 2025MoU signed at Cityscape 2025 to develop infrastructure for Al-Salhiya Hills Real Estate Fund. Partnership aims to establish real estate investment fund infrastructure development.
• First Avenue Real Estate Development CompanyminorStrategic or Co-development Partner · 1 November 2025MoU signed at Cityscape 2025 to establish several real estate investment funds. Partnership for developing multiple real estate investment fund products.
• Radisson BlucoreOthersGlobal hospitality operator managing the Al-Jadida Commercial Hotel Complex property held by the fund. The property includes commercial facilities and a hospitality center operated by Radisson Blu.

Scale indicators4 records

Recent moves7 records

Expansion highlights3 records

Direct peers

• Alinma REIT: Saudi REIT managed by Alinma Investment, listed on Tadawul, providing Shariah-compliant exposure to Saudi income-generating real estate. Directly comparable in product structure and Saudi market positioning.
• Riyad REIT: Saudi publicly traded Shariah-compliant REIT managed by Riyad Capital, listed on Tadawul. One of the largest Saudi REITs by AUM, investing in income-generating real estate across the Kingdom — directly comparable product, regulatory regime, and investor base.
• Derayah REIT: Saudi REIT managed by Derayah Financial, listed on Tadawul, providing Shariah-compliant exposure to Saudi real estate. Directly comparable as a publicly traded income-focused Saudi REIT.
• Sedco Capital REIT: Saudi Shariah-compliant REIT managed by Sedco Capital, listed on Tadawul, focused on income-generating real estate in Saudi Arabia. Directly comparable product, regulatory regime, and distribution model.
• SNB Capital REIT: Saudi REIT managed by SNB Capital (affiliate of Saudi National Bank), listed on Tadawul. Provides diversified Saudi real estate exposure with regular distributions — directly comparable in product type and Saudi market focus.
• Musharaka REIT: Saudi publicly traded Shariah-compliant REIT managed by Musharaka Capital, investing in income-generating Saudi real estate. Closely comparable in regulatory framework, distribution policy, and target market.
• Al Rajhi REIT: Major Saudi Shariah-compliant REIT managed by Al Rajhi Capital, listed on Tadawul. Provides diversified exposure to Saudi commercial real estate with regular distributions — directly comparable structure and target investor base.
• Alkhabeer REIT: Saudi Shariah-compliant REIT managed by Alkhabeer Capital, listed on Tadawul, focused on income-generating Saudi real estate. Closely comparable as a publicly traded income-focused Saudi REIT.
• Jadwa REIT Saudi: Saudi publicly traded REIT managed by Jadwa Investment, focused on income-generating real estate in Saudi Arabia. Closely comparable in product structure, Shariah-compliance approach, and Saudi market focus.

Others

• Dar Al Arkan Real Estate Development: Major Saudi-listed real estate developer with significant commercial and residential assets across Saudi Arabia. While not a REIT structure, it operates in the same Saudi real estate ecosystem and provides a benchmark for underlying property values and market dynamics.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat3 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xtwitter.com/Mulkia_sa
• LinkedInlinkedin.com/company/mulkia-investment

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Mulkia Gulf Real Estate REIT Fund