Edaa implements corporate action on Alkhabeer REIT

Logo of Alkhabeer REIT Fund

The Securities Depository Center Co. (Edaa) announced implementing securities quantity increase for Alkhabeer REIT Fund units into the accounts of eligible securities’ holders today, July 6, it said in a statement.

According to data compiled by Argaam, trading of new units of Alkhabeer REIT Fund will start today.

The fund announced on June 23, the successful completion of the cash subscription process in the second increase in the total value of the fund’s assets on June 17, where 307.36% of the total cash offering volume was oversubscribed.

The move aimed to acquire some real estate assets, including Vision College for Education (previously known as Al Farabi College for Education), located at Al-Rayyan district, east of Al-Haramain highway, Jeddah.

It also aimed to acquire Akun Cold Storages, warehouses located at the intersection of King Faisal Road and South Corniche Street, King Faisal Naval Base, Jeddah.

The fund recently announced completion of the acquisition processes of Akun Cold Storages warehouses and Vision College for Education.