SEDCO Capital REIT extends MoU to buy property in Dubai

26/06/2024 Argaam
Logo ofSEDCO Capital REIT Fund

Logo of SEDCO Capital REIT Fund

The Saudi Economic and Development Securities Company (SEDCO Capital), the SEDCO Capital REIT Fund’s manager, extended the memorandum of understanding (MoU) signed for the purchase of a property in Dubai for 30 working days till August 5, 2024, the company said in a statement to Tadawul today, June 26.

 

The MoU extension comes for the purpose of completing the legal and technical due diligence of the property, the company added.

 

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SEDCO Capital signed, in November 2023, the MoU to purchase an educational complex property in the UAE for AED 160.5 million, excluding any fees related to the acquisition. The MoU was extended twice last January for 30 days, then in March for 30 additional days, data available to Argaam showed.

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