Mulkia Gulf REIT’s unit holders approve to acquire 4 new properties

Mulkia Gulf REIT’s unit holders on June 7 approved to acquire four new assets, Mulkia Investment Co., the fund manager, said in a statement to Tadawul.

The properties, which belong to related party Mulkia Plazas Development Real Estate Fund, include the following:

1) Vivienda villas: a commercial residential complex located in Alhada district, in Riyadh. It’s rented by Forusreal Estate Investment and Development Co. for about SAR 30.75 million, which represents 24 percent of the property. The fund had previously acquired the other 76 percent.

2) A commercial building rented by Olayan Food Services Co.’s Burger king in Alsheraa District, Jeddah, for around SAR15.56 million.

3) A commercial building rented by Olayan Food Services Co.’s Burger king in North Obhur District, Jeddah, for about SAR 7.34 million.

4) A commercial building rented by Olayan Food Services Co.’s Burger king in Khamees Mushait for about SAR13.1 million.

The unit holders also approved suggested changes on fund terms and conditions, the statement added.