Bonyan REIT completes ownership transfer of SAR 200M commercial complex in Riyadh

23/05/2024 Argaam
Logo ofBonyan REIT Fund

Logo of Bonyan REIT Fund

Bonyan REIT Fund signed a sale and purchase agreement for a commercial complex (1991 center) in Hittin District, Riyadh, and completed the regulatory procedures for its acquisition for SAR 200 million, excluding real estate transaction taxes and brokerage fees.

 

In a Tadawul statement today, May 23, fund manager Saudi Fransi Capital said the property’s total leasable area amounts to 8,040 square meters, encompassing seven showrooms and 31 offices. Any lease contracts related to the building will be duly announced, it stated.

 

The fund manager added that this transaction is expected to positively impact Bonyan REIT.

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