Alkhabeer Capital issues terms of Alkhabeer REIT’s asset value increase

Alkhabeer Capital Co. issued Alkhabeer REIT Fund’s terms and conditions that include the relevant information the unitholders need to know before voting on the asset value increase to SAR 1.70 billion from SAR 984.7 million, the fund manager said in a statement to Tadawul.

A total of 36.5 million additional units will be offered in cash and in kind. The total finance amount will be also raised by SAR 397.5 million.

The fund will use the proceeds to acquire more assets and pay the relevant costs.

Unit holders will start voting on the asset increase through Tadawulaty system on Sunday, July 5, the statement added.

Earlier this month, the Capital Market Authority (CMA) approved Al-Khabeer Capital Company's request to increase Alkhabeer REIT Fund’s total assets value by issuing additional units for acquiring real estate assets, Argaam earlier reported.

Target assets are Elegance Tower, AlFarabi Colleges building, as well as under-construction AlFarabi Colleges training building.