SEDCO Capital REIT board starts asset increase by acquiring 2 properties for over SAR 700 mln

Logo of SEDCO Capital REIT

SEDCO Capital REIT Fund’s board of directors commenced the procedures of increasing the total value of the fund’s assets, fund manager Saudi Economic and Development Securities Co. (SEDCO Capital) said in a bourse statement.

The fund aims to acquire two developed and income-generating assets at more than SAR 700 million in Riyadh and Jeddah. It will cover this acquisition by issuing new units and banking facilities in accordance with the fund’s terms and conditions.

This potential acquisition is part of the SEDCO Capital REIT’s strategy to acquire attractive real estate assets that add value to its portfolio and for the unitholders. Also, it is expected to positively impact the overall fund's performance and results.

In accordance with the applicable regulations, the fund manager will secure the required regulatory approvals from the Capital Market Authority (CMA), Saudi Exchange (Tadawul), unitholders, and other legal requirements.

The fund manager will disclose any developments related to this matter in a timely manner.