Saudi regulator approves asset increase of Al Rajhi REIT Fund

The Saudi Capital Market Authority (CMA) has approved Al Rajhi Capital's request to increase Al Rajhi REIT Fund’s total value of assets through issuing additional units to acquire new real estate assets.

The approval was granted as Al Rajhi Capital complied with the relevant disclosure requirements, the market regulator said in a statement.

The fund manager will publish the terms and conditions of Al Rajhi REIT Fund, include the objectives and rationale of the increasing the fund’s assets prior to the meeting of unitholders to vote on the process.

The CMA’s approval should never be deemed as an endorsement of the feasibility of increasing the fund's total asset value.