News

Alkhabeer Capital Announces Material Developments of Alkhabeer REIT Fund

25 July 2021

– Announcement –

Alkhabeer Capital Announces Material Developments of Alkhabeer REIT Fund

Alkhabeer Capital, as the Fund Manager, announces the approval of the Fund’s Board of Directors on 05 Dhu Al-Hijjah 1442 corresponding to 15 July 2021, to increase the total value of the Fund’s assets through the acquisition of three real estate assets (a commercial center in Riyadh, a commercial center in Jeddah, and a residential compound in Al-Khobar) with a total value of SAR 1.53 billion, which Memorandum of Understanding have been signed with its owner by the Fund Manager.

The Fund Manager will disclose any developments in this regard, noting that the increase in the Fund’s total assets value is subject to the approvals of the Capital Market Authority and the Saudi Tadawul Company, as well as the approval of the Fund’s Unitholders.

Accordingly, the Fund Manager expects that the impact of this development will be positive in general on the performance and results of the Fund.

– Ends –