Saudi regulator approves asset increase of Mulkia Gulf REIT

The Saudi Capital Market Authority (CMA) has approved Mulkia Investment Co.’s request to increase Mulkia-Gulf Real Estate REIT Fund’s total value of assets through issuing additional units to acquire new real estate assets.

The approval was granted as Mulkia Investment complied with the relevant disclosure requirements, the market regulator said in a statement.

The fund manager will publish the terms and conditions of Mulkia-Gulf Real Estate REIT Fund, and include the objectives of 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.