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Alawwal Zakat funds
Alawwal Capital has launched several innovative and successful Sharia-compliant mutual funds that meet investor's confidence:
The Board of Directors of Alawwal Periodical Income Fund (IPO) that managed by Alawwal Capital Company approved to distribute the half-annual cash profits to fund’s clients with an average of 5% of the net asset value of the fund as of the due date that corresponds with the end of the second half of the financial year of 2013, achieving a half- annual profit that increase 100% from the expected rate of 2.5%, according to the terms and conditions of the Fund Newsletter, the experiences of the Fund’s team- work with the Fund Manager played an important role in achieving this achievement, also the investment policy of the fund contributed in this achievement by diversifying the investments among different sectors with an emphasis on defensive sectors (mainly) and a focus on regular periodic equities distributions that make the unit price of the Fund less volatile and less dependent on short-term change capital.
Alawwal Real Estate Development Fund’s lands auction has achieved results that exceeded expectations where the entire lands has been sold during just one day among heavy presence of interested people in the field of real estate in one of the largest real estate auctions taking place this year in the Saudi capital Riyadh, the period of the auction has extended from 3:00 pm up to 10:30 pm.
It is worth mentioning that the committee announced to close the auction on Friday 13th Dec. 2013 while it was scheduled to take place for two days Friday and Saturday 13-14 of Dec. 2013, and by the grace of Allah the entire land of 1702 has been sold that distributed in more than 100 Block, the sale prices were suitable for public where the residential land prices ranged from 650 Saudi Riyal to 910 Saudi Riyal per square meter. This has increased the total sales volume in the chart to SR720 million.
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