Alkhabeer REIT board approves property acquisitions in Riyadh, Jeddah

25/10/2020 Argaam

Alkhabeer Capital, the fund manager of Alkhabeer REIT Fund, announced that the board of directors approved, during its meeting on Thursday, Oct. 22, the targeted acquisition of logistics, educational and industrial properties in Riyadh and Jeddah, mentioned in the announcement made on Sept. 27.

 

The acquisitions aim to expand the fund’s asset base and diversity its sources of income, to reflect positively on its results and performance, the company said in a filing to Tadawul.

 

According to data compiled by Argaam, Alkhabeer Capital announced, on Sept. 27, that the fund’s board of directors approved the terms and conditions, which the fund manager aimed to submit to the Capital Market Authority (CMA) and Tadawul to get their approvals on increasing the fund’s assets to acquire targeted properties.

 

The fund manager added that it will unveil the properties after the completion of due diligence and obtaining the fund’s approval.

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