Unitholders approve SEDCO Capital REIT’s SAR 600 mln asset increase

Logo of SEDCO Capital REIT Fund

SEDCO Capital REIT Fund’s unitholders approved on April 17 increasing total asset value by SAR 600 million through issuing additional units, fund manager Saudi Economic and Development Securities Co. (SEDCO Capital) said in a statement to Tadawul.

This comes to acquire Atelier La Vie, an income-generating property located in Jeddah. 

The unitholders also approved the addendum terms and conditions, which were mainly prepared to reflect the increase in total assets. 

Earlier this month, the Capital Market Authority (CMA) approved SEDCO Capital’s request to increase the fund's total assets value by issuing additional units for acquiring new real estate, according to data compiled by Argaam.