Alkhabeer REIT approves updated terms & conditions for increasing capital, supplementary appendix

Logo of Alkhabeer REIT Fund

Alkhabeer REIT Fund’s board of directors approved today, Aug. 10, the updated terms and conditions for increasing the fund's capital, as well as the supplementary appendix, fund manager, Alkhabeer Capital, said in a bourse filing.

The fund manager intends to submit the updated terms and conditions, as well as the supplementary appendix to the Capital Market Authority (CMA) and the Saudi Exchange (Tadawul), regarding the approval request of increasing the total value of the fund's assets in order to acquire the targeted new real estate assets.

Accordingly, Alkhabeer Capital expects that the impact of this development will be generally positive on the fund, the statement added.

In July, Alkhabeer REIT’s board approved increasing the total value of the fund’s assets through the acquisition of three properties at a total value of SAR 1.53 billion, according to data compiled by Argaam.

The new acquisitions are represented in two commercial centers in Riyadh and Jeddah, and a residential compound in Al-Khobar.