Alkhabeer REIT completes acquisition of Akun Cold Storages

Alkhabeer REIT Fund

Alkhabeer Capital, the fund manager of Alkhabeer REIT Fund, announced today, June 30, the completion of the acquisitions process of Akun Cold Storages, warehouses located at the intersection of King Faisal Road and South Corniche Street, King Faisal Naval Base, Jeddah.

The fund m anager aims from the above-mentioned acquisition to expand the fund's asset base and diversify its sources of income, according to a bourse filing.

This will positively affect the results and performance of the fund.

According to Argaam data, Alkhabeer REIT Fund announced on June 17, the successful completion of the cash subscription process in the second increase in the total value of the fund’s assets from SAR 1727.2 million to SAR 2062.7 million, where 307.36% of the total cash offering volume was oversubscribed.