SEDCO Capital REIT extends MoU for property purchase in Dubai

18/03/2024 Argaam

SEDCO Capital REIT extends MoU for property purchase in Dubai

Logo of SEDCO Capital REIT Fund

Saudi Economic and Development Securities Co. (SEDCO Capital), manager of SEDCO Capital REIT, extended a memorandum of understanding (MoU) to purchase an educational complex in Dubai, UAE, for an additional 30 working days till April 15.

 

In a statement to Tadawul today, March 18, the company said this extension is intended to complete the due diligence, both legal and technical, for the property.

 

In November 2023, SEDCO Capital signed a MoU to purchase an educational complex in the UAE for AED 160.5 million, excluding acquisition-related fees. The MoU was then extended last January for 30 working days, according to available data on Argaam.

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