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Al Rajhi REIT Fund acquires SAR 230m properties in Riyadh

Al Rajhi REIT Fund acquires SAR 230m properties in Riyadh
The first property is a SAR 210 million school

Riyadh – Mubasher: Al Rajhi Capital’s Al Rajhi REIT Fund has acquired two properties in Riyadh, according to a bourse statement released on Wednesday.

The first property is a SAR 210 million school with a total built-up area of 39,028 square metres.

With a built-up area of 2,549 square metres, the second property is a SAR 20 million kindergarten.  

“This acquisition is expected to have a positive impact on Al Rajhi REIT’s financial performance going forward. Al Rajhi Capital confirms that there are no related parties in the acquisition except the source of financing is from existing debt facility from Al Rajhi Bank,” as per the bourse statement.