Announcement by Al Rajhi Capital regarding a material development of Al Rajhi REIT Fund
Al Rajhi Capital Company - The fund manager for Al Rajhi REIT Fund - announces the approval of the Fund's Board of Directors on signing purchase agreements of two developed properties, one property is based in Riyadh and the other property is in Jeddah with a total value of SAR 930 Mn and leased for a total rent of SAR 70.49Mn.
It is worth mentioning that the purchase agreements are conditional to complete the process of increasing the fund’s total asset value through additional unit offering which requires approvals of Capital Market Authority, Saudi Exchange (Tadawul) and unit holders.
The resulted Impact from the occurrence of the Event: Completion of the process of increasing the total fund’s size by obtaining the approvals of Capital Market Authority, Saudi Exchange (Tadawul) and Unitholders by offering additional units.
