Makeen - Sustainable Growth Investment
Initial Public Offering
Asas Makeen Real Estate Development and Investment Company (“Asas Makeen” or the “Company”), a leading real estate developer in the Kingdom of Saudi Arabia, is pleased to announce its intention to offer 10% of its share capital through an initial public offering (IPO) and list its shares on the Nomu Parallel Market. This will provide investors with rewarding opportunities to participate in one of the Kingdom’s most important industries.
Since its establishment in 2010, Asas Makeen has completed numerous residential, commercial, and mixed-use projects, focusing on smart and sustainable urban planning and long-term value creation.
Our Journey: From Beginning to Leadership
Makeen in Figures
Chairman's Message
At Asas Makeen, we work to shape places that enrich communities and drive sustainable growth. Looking to the future, we invest in smart development solutions, sustainability initiatives, and new urban growth opportunities, within a clear roadmap for expansion aligned with Saudi Vision 2030.
Mr. Abdulrahman bin Saud Al-Hadlaq
CEO's Message
Asas Makeen is based on a diversified business model that ensures stability and growth, with steady revenue streams from development sales, leasing, and property management. As the Company begins this new chapter with its IPO and transition to the parallel stock market, the Company’s leadership, dedicated team, and governance structure will ensure that the Company remains a leader in the evolving real estate landscape in the Kingdom.
Abdulrahman bin Ibrahim Al-Hadlaq
Leadership and Decades of Experience
Board of Directors
Key Investment Advantages
A distinct business model
that adheres to the highest building specifications and construction standards, along with the Company’s projects outstanding locations and proximity to services, selected based on studies and research on market conditions and consumer behavior.
A highly competent management team
with specialized departments supervised by a select group of qualified professionals, who have achieved a record-breaking turnaround time and are competitive in the market, while maintaining the highest levels of quality in implementation.
It has gained the trust of individuals, banks, and investment companies
with warranties and after-sales services that primarily aim to improve the customer experience.
Good investment returns
with rapid working capital turnover, which has contributed to expansion, spread, and increased growth in real estate units.
Key Dates for the IPO Process
Video on the Subscription Method
Documents
Frequently Asked Questions
What sectors does Asas Makeen operate in?
The Company’s mission is based on the principle of excellence in the construction of residential complexes, villas, apartments, and mixed-use commercial and administrative projects, in addition to contracting and construction according to the latest engineering standards to ensure quality and efficiency.
What is the purpose of the IPO?
By offering a portion of its shares for public subscription, the Company aims to expand the ownership base, increase liquidity in the Company’s shares, and enable the Company to take advantage of future growth opportunities.
Who can participate in the public subscription?
- Capital market institutions acting on their own account.
- Clients of a capital market institution licensed to conduct management activities, provided that the capital market institution has been appointed under conditions enabling it to make decisions regarding accepting participation in the offering and investing in Nomu – Parallel Market on behalf of the client without the need to obtain prior approval from the client.
- The government of the Kingdom, any government entity, any international body recognized by CMA, Saudi Exchange, any other capital market recognized by CMA or the Securities Depository Center Company (“Edaa”).
- Government-owned companies, directly or through a portfolio managed by a capital market institution licensed to practice management activities.
- Companies and funds established in the Gulf Cooperation Council (GCC) countries.
- Investment funds.
- Any other legal persons may open an investment account in the Kingdom and an account with Edaa.
- Natural persons who may open an investment account in the Kingdom and an account with Edaa provided they meet any of the following criteria:
- a) They must have conducted transactions in the securities markets with a total value of no less than forty million (40,000,000 SAR) Saudi Riyals and no less than ten transactions per quarter during the past twelve months.
- b) Their net assets must be no less than five million Saudi Riyals.
- c) They must work or have previously worked in the financial sector for at least three years.
- d) They must hold a general securities trading certificate accredited by CMA.
- e) They must hold a professional certificate specialized in securities trading accredited by an internationally recognized body.
- Any other persons determined by CMA.
What are the minimum and maximum subscription limits?
The minimum subscription is ten (10) shares, and the maximum subscription is four hundred and ninety-nine thousand nine hundred and ninety (499,990) shares per qualified investor.
How will profits be distributed to shareholders after the subscription?
Holders of offering shares are entitled to their share of any dividends declared or distributed by the Company as of the Company’s listing date and for the following financial statements in accordance with the dividend policy determined by the Company, based on the Company’s income, financial position, capital requirements, future prospects, and other legal and regulatory considerations.
Are there any restrictions on selling the Company's shares after the IPO?
Yes, there is a lock-up period for substantial shareholders who own five percent or more of the Company’s shares for a period of (12) twelve months from the date of commencement of trading on the Parallel Market.
How is the share price for the public offering estimated?
The price range will be determined based on the bookbuilding process and evaluation of demand from qualified investors, in coordination between the Company and the Lead Manager.
How will the offering proceeds be used?
The net proceeds from the offering will be distributed to the selling shareholders according to the number of shares they own. The Company will not receive any portion of the offering proceeds.
When will trading of the Company's shares begin?
Trading of the Company’s shares is expected to begin shortly after the completion of the share allocation process.
Financial Advisor and Lead Manager
Receiving Entities
