Jadwa REIT Fund finalizes sale of commercial part of Al Fanar complex for SAR 140 mln

14/09/2022 Argaam

Jadwa REIT Saudi logo

Jadwa REIT Saudi Fund completed the sale process and ownership transfer of the commercial component of Al Fanar complex in Al Rawabi district, Khobar, to the buyer.  

 

The sale was completed after the fund satisfied the sale and purchase agreement terms and received the deal proceeds, fund manager Jadwa Investment Co. said in a bourse statement.

 

The sale is expected to be positive on the fund as the financial impact of the sale will be included in the company's financial statements for the second half of 2022.

 

In July, the fund signed a sale and purchase agreement (SPA) for the commercial component of Al Fanar complex in Al Rawabi district, Khobar, for SAR 140 million, Argaam earlier reported. 

 

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