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Swicorp Wabel REIT Swicorp Wabel REIT صندوق سويكورب وابل ريت SWICORP WABEL REIT FUND

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Swicorp Wabel REIT Swicorp Wabel REIT صندوق سويكورب وابل ريت SWICORP WABEL REIT FUND Brochure March 2018 Swicorp Wabel REIT Swicorp Wabel REIT صندوق سويكورب وابل ريت SWICORP WABEL REIT FUND A closed-ended Shariah-compliant Real Estate Investment Traded Fund listed in the Saudi Stock Exchange (Tadawul) The offering of Swicorp Wabel REIT units has been approved by the Saudi Arabian Capital Market Authority on 10/04/1439H (Corresponding 28/12/2017G) Certificate no. SCP-726-06-01-08-17 Fund Size SAR 1,180,000,000 Number of units offered to public 35,400,000 Units Value of units offered to public SAR 354,000,000 Fund Manager The Fund’s Terms & Conditions and its financial reports are available at: Fund Website swicorpwabelreit.com Fund Manager Website www.swicorp.com Saudi Stock Exchange (Tadawul) Website www.tadawul.com.sa Swicorp Wabel REIT 2 The Fund Swicorp Wabel REIT “Swicorp Wabel REIT” is a closed-end Sharia compliant Real Estate Fund, listed in the Saudi Stock Exchange “Tadawul”, established in Saudi Arabia, and adhere to the “Real Estate Investment Funds regulations” and Real Estate Investment Traded Funds Instruction as specified by Capital Market Authority “CMA”. Fund Objective The Fund aim to invest in real estate assets within the Kingdom of Saudi Arabia, and distribute at least 90% of the fund’s net profit annually to unitholders. The Fund may invest in under construction assets bearing that at least 75% of the fund’s total assets value must be invested in developed real estates qualified to generate periodic rental income. Further, the Fund will not invest in vacant land. Fund Term 99 years, starting from the date of listing the Fund units’ in the Saudi Stock Exchange “Tadawul” and making it available for trading and extendable for similar periods at the discretion of the Fund Manager and after obtaining CMA approval. 3 Swicorp Wabel REIT Why Swicorp Wabel REIT Fund? Why Swicorp Wabel REIT Assets? Compared to all other existing REIT in KSA market, at its • Wabel’s properties (“Malls”) • The properties consist of launch, Swicorp Wabel REIT features: are newly constructed, a modern entertainment located in selective areas in spacious area as well High Targeted Gross Initial Yield * (2018) 8.6% prime locations within fast- as fine restaurants and growing cites of Saudi to: cafes to make the mall a Highest Targeted Net Initial Yield * (2018)** 7.7% (i) enjoy the first mover and shopping and entertainment monopoly benefits; (ii) exploit destination; the advantage from high • The properties are Low fund management fee (of NAV) 0.75% demand coupled with low generating periodical supply and (iii) correspond positive rental consistent Low Total Fund fees*** 0.9% consumers requirements with potential investors to provide various goods appetite as more than and products that they are 50% of the value of the No capital structuring fee 0.0% looking for in their area; existing lease agreements • The properties are anchored are between 5-20 years. by 423 major local and Furthermore, more than 50% * Per Par Value international retailers and of the executed contracts ** As per the feasibility study conducted by “ValuStrat” the net yield is targeted to will cater to a wide, cross- contain escalation clauses; reach 8.3% in 2020 section of high quality • While the properties are still *** The total Fund fees is including Management Fee specialty retailers and newly built, they are enjoying national chain operators; high occupancy rates, with an average of 96.38% of the total available GLA. Swicorp Wabel REIT 4 Fund Overview Targeted Yield Per Par Value Number of Properties: 4 Assets 2018 2019 2020 Occupancy Rate: 96.38% Gross Yield 8.6% 9.04% 9.20% Net Yield 7.70% 8.14% 8.30% Total Fund Size: SAR 1,180,000,000 Fund Fees Targeted Net Rent Proceed in 2018: SAR 101.9M Management Fee 0.75% per annum of NAV Subscription Fee 1% of subscription amount (including VAT) Total Built-up Area: 229,853 m2 Property 3.0% of total rent collected Management Fee 2018 Targeted Gross Yield: 8.6% Custody Fee 0.025% per annum of NAV Estimated at 0.15% of NAV (Capped at 0.5% Other Fees 2018 Targeted Net Yield: 7.7% of NAV) Fund Manager Investment: SAR 35,400,000 Cash Contribution 5 Swicorp Wabel REIT Fund Initial Portfolio Portfolio Summary Property #1 #2 #3 #4 City Hafr Al Batin Riyadh Tabuk Dawadmi Completion Date * June 2016 December 2016 March 2016 October 2015 Fund Ownership Freehold Freehold Freehold Lease Contract Acquisition Price (SAR million) 470.2 323.6 219.4 166.8 Occupancy Rate as of 15th November 2017 ** 97.46% 93.14% 96.72% 97.25% 2018 Targeted Revenue (SAR million) 52.6 24.2 21.8 27.0 2018 Targeted Net Income (SAR million) 42.8 19.9 17.8 21.4 2018 Targeted Gross Yield 11.20% 7.49% 9.92% 16.21% 2018 Targeted Net Yield 9.10% 6.16% 8.12% 12.82% * As per construction completion certificates ** Occupancy rate is based on weighted average of GLA Swicorp Wabel REIT 6 Fund’s Assets 1/4 Al Makan Mall – Hafr Al Batin Location Map Property Al Makan Mall City Hafr Al Batin Completion Date June 2016 Fund Ownership Freehold 85 Acquisition Price * 470.2 Occupancy Rate as of 15th November 2017 97.46% 2018 Targeted Revenue * 52.6 2018 Targeted Net Income * 42.8 2018 Targeted Gross Yield 11.20% Road Aziz Abdul King 2018 Targeted Net Yield 9.10% * All amounts are in SAR million Top 10 brands by value Top brand owners by value 5 % The asset is occupied by local and international renowned 3 % companies that contribute to the total mall revenue as follow: 3 % 2 % 8% ◌ Al Shaya In’l 8% ◌ Dar Al Bander 2 % 6% ◌ Fawaz AlHokair 2 % 65% 5% ◌ Al Abdulkareem Group 1 % 5% ◌ 3% Azizia Panda 1 % ◌ Asateer 1 % ◌ Others 1 % 7 Swicorp Wabel REIT City Overview on the Initial Portfolio’s Portfolio Assets Hafr Al Batin: Al Makan Mall Hafr Al Batin Exterior City Overview • Located in the Eastern Province, within 430 km north of Riyadh, 94 km from Kuwait border and 74 km from the Iraqi border • Considered as a desert route for pilgrims to arrive to Makkah & Madina from neighboring GCC countries • Comprises more than 35 villages with a population of 466,000 as of 2017 growing at CAGR of 1.88% between 2017 and 2020 Key Demand Drive • Hafr Al Batin attracts a high number of travelers from Iraq and Kuwait Interior • Shopping is the key activity as the town has limited entertainment options • Government investment in Hafr Al Batin by opening new industrial cities in Hafr Al Batin will create employment opportunities & strong demand for retail • The nearby King Khalid Military City & Hafr Al Batin University attracts the surrounding residents and is a big driver of growth for mall traffic source: ValuStrat Swicorp Wabel REIT 8 Fund’s Assets 2/4 Al Makan Mall – Riyadh Property Al Makan Mall Location Map City Riyadh Completion Date December 2016 Fund Ownership Freehold Acquisition Price * 323.5 Prince Mohammad Occupancy Rate as of 15th November 2017 93.14% Road 2018 Targeted Revenue * 24.2 Al ImamFaysal saud Road Ibh 2018 Targeted Net Income * 19.9 2018 Targeted Gross Yield 7.49% 2018 Targeted Net Yield 6.16% Top 10 brands by value * All amounts are in SAR million 10 % Top brand owners by value 9 % The asset is occupied by local and international renowned 5 % companies that contribute to the total mall revenue as follow: 4 % ◌ Dar Al Bandar 4 % ◌ AlShaya In’l Tara Center 2 % 28% ◌ Azizia Panda 40% Sport 1 2 % ◌ Al Abdulkareem Group 2 % ◌ Others 17% 2 % 5% 10% 2 % 9 Swicorp Wabel REIT City Overview on the Initial Portfolio’s Portfolio Assets Riyadh: Al Makan Mall Riyadh Exterior City Overview • Located in the Central Province, Riyadh is the capital and most popolated city in Saudi Arabia • Current population is 6.4 million and expected to grow at CAGR of 1.97% between 2017 and 2020 • Riyadh railway project expected to be completed in 2018, which will facilitate mobility between the districts • Headquarters of major companies and banks are based in Riyadh, making it the Kingdom’s first destination for job seekers Key Demand Drive Interior • The Mall is located in populated area in north of Riyadh close to the Kind Abdullah Financial District • The area is an upcoming district of Riyadh mainly comprised of residential villa communities and vacant lands. • Lack of globally recognized entertainment coupled with severe hot climate, indoor entertainment facilities have become a popular leisure destination. source: ValuStrat Swicorp Wabel REIT 10 Fund’s Assets 3/4 Al Makan Mall – Tabuk Property Al Makan Mall Location Map City Tabuk Completion Date March 2016 King Khalid Road Fund Ownership Freehold King Fahad Road Acquisition Price * 219.4 Occupancy Rate as of 15th November 2017 96.72% 2018 Targeted Revenue * 21.7 2018 Targeted Net Income * 17.8 2018 Targeted Gross Yield 9.92% 2018 Targeted Net Yield 8.12% Top 10 brands by value * All amounts are in SAR million 15 % Top brand owners by value 6 % The asset is occupied by local and international renowned 3 % companies that contribute to the total mall revenue as follow: 2 % 2 % ◌ Al Shaya In’l 16% ◌ Azizia Panda 2 % ◌ Al Abdulkareem Group 2 % 53% 16% ◌ Asateer 2 % ◌ Kamal Jamjoom 10% 2 % ◌ Others 3% 1 % 2% 11 Swicorp Wabel REIT City Overview on the Initial Portfolio’s Portfolio Assets Tabuk: Al Makan Mall Tabuk Exterior City Overview • Located in Northwest of the Kingdom, Tabuk region is close to the Jordan-Saudi Arabia border • The city hosts the largest air force in KSA • The population as of 2017 is 777,000 with 1.81% CAGR between 2017 and 2020 • The Kingdom aims to revitalize the province with the newly announced “Neom” city (approx.
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