Sunday 7 March 2021

Saudi Alkhabeer Capital gets approval to up REIT asset value

RIYADH, January 14, 2021

Saudi-based Alkhabeer Capital said it had won approval from Capital Market Authority to increase the total asset value of its real estate investment trust (REIT) fund.
A leading asset manager specialising in shari'a-compliant investments and financial services, Alkhabeer Capital pointed out that the assets value boost was aimed at carrying out key regional acquisitions. These include:
*Vision College for Education (previously known as Al Farabi College for Education): An educational property located in Al-Rayyan district, east of Al-Haramain highway, Jeddah.
*Akun Cold Storages: Cold storage warehouses located at the intersection of King Faisal Road and South Corniche Street, King Faisal Naval Base, Jeddah.
*Industrial Assets: Indusrial and logistical assets of three factories located in Al-Obeikan Industrial City in Riyadh.
Alkhabeer Capital said these acquisitions will help the firm expand and diversify the fund's asset base, which is expected to positively impact its results and performance.-TradeArabia News Service


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