Saudi Fransi Capital Announces a Material Development to Bonyan REIT Fund
| Element List | Explanation |
|---|---|
| Description of the Event | Saudi Fransi Capital Company, in its capacity as manager of the Bonyan REIT Fund, announces that the Fund has signed a sale and purchase agreement and completed the transfer for a mixed-use plaza on Prince Mohammad Ibn Sa’ad Ibn Abdulaziz Street in Hitten District, “1991 Center” for an amount of SAR 200,000,000 excluding RETT and brokerage. |
| The Impact Caused by the Event | The Fund Manager expects this transaction to have a positive impact on the Fund. |
| Additional Information | It should be noted that the property has a total GLA of 8040 sqm and consists of 7 showrooms and 31 offices. An announcement will also be made upon the signing of a lease contract/s for the building. |
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