Alkhabeer REIT Fund is set to acquire seven income-generating assets worth SAR 960.3 million at prime locations in Riyadh, Jeddah and Tabuk, the company’s prospectus said.
The seven real estate assets will serve the retail, administrative and residential sectors, it added.
With a lease period of up to 15 years, tenants include public agencies as well as private local and international entities.
The fund manager has already signed 100 promissory notes worth SAR 619 million as rental securities for four properties, the prospectus said.
Alkhabeer Capital launched the initial public offering (IPO) of its Shari’ah compliant Alkhabeer REIT Fund on Sunday and will run until Nov. 29 on Tadawul, Argaam previously reported.
|
Properties To Be Acquired |
|||||||
|
Property |
City |
Sector |
Status |
Ownership |
Building area (000’SQM) |
occupancy % |
Acquisition value (SAR mln) |
|
Al Malga compound |
Riyadh |
Residential |
Developed |
Owned |
41.36 |
100 % |
314,00 |
|
Gallery mall |
Tabuk |
Retail |
Under construction |
Usufruct |
43.63 |
100 % |
155,00 |
|
Plazo Center |
Riyadh |
Retail |
Developed |
Owned |
5.82 |
100 % |
93.30 |
|
Home Works center |
Riyadh |
Retail |
Developed |
Owned |
9.18 |
100 % |
78,00 |
|
Ahlan Court |
Jeddah |
Retail |
Developed |
Owned |
2.76 |
100 % |
70,00 |
|
Bin 2 Center |
Jeddah |
Retail/office |
Developed |
Owned |
21.31 |
100 % |
90,00 |
|
Elite commercial Complex |
Jeddah |
Retail/office |
Developed |
Owned |
15.71 |
100 % |
160 |
|
Total |
|
|
|
139.76 |
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