Bonyan REIT acquires Al Rashid Mall Abha for SAR 110M

06/12/2023 Argaam
Logo ofBonyan REIT Fund

Logo of Bonyan REIT Fund

Saudi Fransi Capital, manager of Bonyan REIT Fund, executed a SAR 110 million right of purchase option for Al Rashid Mall Abha. 

 

The fund acquired the mall via a 20-year usufruct agreement, enabling the asset purchase within five years of the agreement signing, the company said in a statement to Tadawul today, Dec. 6. 

 

Procedures are underway to update the deed for ownership transfer to Bonyan REIT, Saudi Fransi Capital added, expecting a positive impact on the fund as a result of the deal. 

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