Alkhabeer REIT Fund to acquire seven assets worth SAR 1 bln

Alkhabeer REIT Fund is set to acquire seven income-generating assets worth SAR 960.3 million at prime locations in Riyadh, Jeddah and Tabuk, the company’s prospectus said.

The seven real estate assets will serve the retail, administrative and residential sectors, it added.

With a lease period of up to 15 years, tenants include public agencies as well as private local and international entities.

The fund manager has already signed 100 promissory notes worth SAR 619 million as rental securities for four properties, the prospectus said.

Alkhabeer Capital launched the initial public offering (IPO) of its Shari’ah compliant Alkhabeer REIT Fund on Sunday and will run until Nov. 29 on Tadawul, Argaam previously reported.

Properties To Be Acquired
Property	City	Sector	Status	Ownership	Building area (000’SQM)	occupancy %	Acquisition value (SAR mln)
Al Malga compound	Riyadh	Residential	Developed	Owned	41.36	100 %	314,00
Gallery mall	Tabuk	Retail	Under construction	Usufruct	43.63	100 %	155,00
Plazo Center	Riyadh	Retail	Developed	Owned	5.82	100 %	93.30
Home Works center	Riyadh	Retail	Developed	Owned	9.18	100 %	78,00
Ahlan Court	Jeddah	Retail	Developed	Owned	2.76	100 %	70,00
Bin 2 Center	Jeddah	Retail/office	Developed	Owned	21.31	100 %	90,00
Elite commercial Complex	Jeddah	Retail/office	Developed	Owned	15.71	100 %	160
Total					139.76

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