Riyadh – Mubasher: The Saudi Capital Market Authority (CMA) has approved Mulkia Investment Company's request to increase Mulkia-Gulf Real Estate REIT Fund total assets value by issuing additional units.

Mulkia-Gulf Real Estate REIT Fund is increasing its capital with an aim to acquire new properties, according to a statement to the Saudi Stock Exchange (Tadawul).

The approval was granted following the fund manager’s compliance with the relevant requirements as per the Real Estate Investment Funds Regulations and Real Estate Investment Traded Funds Instruction.

Unitholders will vote in their next meeting on increasing the fund's total assets value by issuing additional units.

The fund was listed on Tadawul in November 2017, with a SAR 600 million capital, distributed over 60 million units with a par value of SAR 10 per unit.