SEDCO Capital REIT unitholders approve SAR 702 mln asset value increase via additional units offer

Logo of SEDCO Capital REIT Fund

SEDCO Capital REIT Fund’s unitholders approved increasing the total asset value by approximately SAR 702 million, during the unitholders’ meeting, held on Dec. 2, according to a bourse filing by fund manager, SEDCO Capital.

The assets will be increased as SEDCO will offer additional units (whether cash or in-kind) to acquire additional real estate assets from SEDCO Capital Real Estate Income Fund II and to pay the related expenses and costs.

The real estate portfolio comprises eight developed and income-generating properties in different sectors, located between Riyadh and the Eastern Province. The portfolio is managed by SEDCO Capital, which is considered a related party.

Unitholders also approved the addendum of the fund’s terms and conditions, which was published on Nov. 18, to reflect the increase in total asset value.