AlAhli REIT Fund’s (1) assets valued at SAR 1.37 bln in H1: NCBC

AlAhli REIT Fund (1)’s assets were evaluated by two accredited independent valuators in H1 2018, NCB Capital, the fund manager said in a bourse statement on Sunday.  

According to Valustrat, the aggregate value of Jeddah-based Alandalus Mall and the adjacent five-star Staybridge Suites Hotel stood at SAR 1.37 billion.

The exit yield was estimated at 8.5 percent and 9 percent for Al Andalus Mall and Staybridge, respectively for the same period, the report added.

Meanwhile, the aggregate value of both assets was set at SAR 1.29 billion by Colliers International.