Unitholders approve Taleem REIT Fund's capital hike to SAR 510 mln

Unitholders of Taleem REIT Fund have approved the increase of the fund size to SAR 510 million from SAR 285 million by acquiring a new real estate asset, Saudi Fransi Capital, fund manager, said in a statement to Tadawul on Tuesday.

At a meeting held on Monday, unitholders also approved the amended terms and conditions of the fund which include updates on the fund's capital, number of units, risks, mechanism of the increase in fund's capital and allocation mechanism of new units, it added.

In August, the fund reported a net profit of SAR 10.85 million for H1 2018.