Alkhabeer Capital announces availability of Alkhabeer REIT terms and conditions

Alkhabeer Capital announced the availability of the amended terms and conditions for Alkhabeer REIT Fund, which include the increase of the fund's total assets value from SAR 1.727 billion to SAR 2.062 billion, according to a bourse filing.

This will enable unitholders to vote on the decision to increase the fund's total assets value, it added.

The increase will be carried out through offering 38.037 million additional units by accepting in-kind and cash contributions, the company said.

It added that proceeds of the additional offering will be used to acquire additional real estate assets and pay the expenses and related costs.

The fund manager announced on April 6, 2021 that voting on the decision will take place through unitholders’ meeting, which will be held remotely on April 25, 2021.