Riyadh – Mubasher: Alkhabeer Capital, manager of Alkhabeer REIT fund, has received the Capital Market Authority’s (CMA) approval to increase the total value of the fund's assets in a bid to acquire new real estate assets.

The fund will take over Vision College for Education (previously known as Al Farabi College for Education), as well as Akun Cold Storages, cold storage warehouses located at the intersection of King Faisal Road and South Corniche Street, King Faisal Naval Base, Jeddah, according to a bourse statement on Tuesday.

Moreover, it will acquire industrial and logistical assets of three factories located in Al-Obeikan Industrial City in Riyadh.

The aforementioned acquisitions will expand and diversify the fund's asset base, which is expected to have a positive overall impact on its results and performance.