AlAhli REIT Fund says Riyadh office complex ownership to be transferred post precautionary measures

NCB Capital, which manages AlAhli REIT Fund 1, announced that it is in the process of completing the ownership transfer of Riyadh’s commercial office complex.

The fund manager further noted that the acquisition will be completed after the end of the coronavirus precautionary measures taken by the Saudi government

Any material developments in this regard will be announced in due course.

In Dec. 2019, AlAhli REIT Fund’s 1 board of directors approved extending the period required to complete the ownership transfer of Riyadh’s commercial office complex for additional 3 months ending on March 31, 2020, Argaam reported.