Alkhabeer Capital to raise AlKhabeer REIT’s assets by 51.6%

Alkhabeer Capital Co., the manager of Alkhabeer REIT Fund, is planning to raise the total asset value of the fund by 51.6% in cash and in kind, according to the company’s statement to Tadawul on Wednesday.

The action will be taken after obtaining the necessary approvals to complete the acquisition of 2 properties in Riyadh and the Eastern region, for which the fund manager had earlier signed memorandums of understanding (MoUs).

The fund manager noted that the raise is expected to have a positive impact on the fund’s performance.

The raise is subject to the approval of the Capital Market Authority (CMA) and unit holders.

The company will announce further developments in due course, the statement concluded.