Al Mashaar REIT completes ownership transfer of SAR 135 mln Riyadh office property

31/03/2021 Argaam

Logo of Al Mashaar REIT

Al Mashaar REIT Fund completed the procedures of transferring ownership of the commercial property iOffices in Riyadh for a total value of SAR 135 million, fund manager Muscat Capital said in a bourse statement.

 

The financial impact of the deal is expected to be positive, which will reflect in the results of the fund during 2021.

 

According to data compiled by Argaam, on March 21, 2021, Al Mashaar REIT Fund completed the sale and purchase agreement to acquire the commercial property iOffices in Riyadh for a total value of SAR 135 million.

 

The property comprises three Class A income generating commercial office towers, located on a prime location in Thumama Road, next to the Aliya plaza Complex in the District of Rabeea.

 

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