Alkhabeer REIT completes acquisition of Vision College for Education

Logo of Alkhabeer REIT Fund

Alkhabeer Capital, fund manager of Alkhabeer REIT Fund, announced that it completed on June 27, the acquisition of Vision College for Education, according to a bourse filing.

The fund manager aims from the acquisition to expand the fund's asset base and diversify its sources of income, which will positively impact the fund results and performance.

According to Argaam data, Alkhabeer REIT Fund announced on June 17, the successful completion of the cash subscription process in the second increase in the total value of the fund’s assets from SAR 1727.2 million to SAR 2062.7 million, where 307.36% of the total cash offering volume was oversubscribed.

The move aimed to acquire some real estate assets, including Vision College for Education (previously known as Al Farabi College for Education), located at Al-Rayyan district, east of Al-Haramain highway, Jeddah.

It also aimed to acquire Akun Cold Storages, warehouses located at the intersection of King Faisal Road and South Corniche Street, King Faisal Naval Base, Jeddah.