Riyadh – Mubasher: Saudi Fransi Capital, acting as the Fund Manager for Bonyan REIT Fund, carried out a call option to purchase Al Rashid Mall Abha for SAR 110 million.

The fund initially acquired the mall through a 20-year usufruct agreement, which granted it the right to purchase the asset within five years from the signing date, according to a bourse disclosure.

Saudi Fransi Capital noted that the property's title deed is being transferred to the fund, adding that the transaction is expected to have a positive impact on Bonyan REIT.

In November 2023, Saudi Fransi Capital announced a cash dividend worth SAR 0.33 per unit to the unitholders of Bonyan REIT at a 3% distribution ratio of net asset value for the period from 1 May to 31 October 2023.

The eligible unitholders received a total of SAR 53.75 million for 162.88 million units within 15 business days from the entitlement date, 28 November 2023.