Alkhabeer REIT to open subscription to raise asset value from May 30

Logo of Alkhabeer REIT Fund

The subscription period to increase the total asset value of Alkhabeer REIT Fund through additional public offering will run from May 30, through June 17, 2021, the fund manager Alkhabeer Capital said in a filing to Tadawul.

Subscription will be available through the receiving banks, namely Aljazira Capital (lead manager and receiving bank), Al Rajhi Bank and Saudi National Bank.

The fund's unitholders approved increasing the fund's total assets by nearly SAR 335.5 million, during the meeting held on April 25, 2021, Argaam reported.

The increase will be initiated by offering additional units to acquire more real estate assets and pay the related expenses and costs.

The unitholders approved the amended terms and conditions of the fund, which is mainly updated to reflect the increase in the total assets value of the fund.

The move aims to acquire some real estate assets, including the following:

1) Vision College for Education (previously known as Al Farabi College for Education), located at Al-Rayyan district, east of Al-Haramain highway, Jeddah

2) Akun Cold Storages, warehouses located at the intersection of King Faisal Road and South Corniche Street, King Faisal Naval Base, Jeddah

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