Riyadh - Mubasher: The board of Alkhabeer REIT Fund has approved an increase in the total value of the Fund's assets through the acquisition of three real estate assets with a total value of SAR 1.53 billion.

The real estate assets comprise a commercial centre in Riyadh, a commercial centre in Jeddah, and a residential compound in Al-Khobar, Alkhabeer Capital, the Fund Manager, announced on Sunday.

The increase in the Fund's total assets value is subject to the approvals of the Capital Market Authority (CMA) and the Saudi Stock Exchange (Tadawul), and the Fund's Unitholders.

The Fund Manager expects that this development will have a positive impact on the performance and results of the Fund.