Saudi fund manager Sedco Capital is set to acquire a number of properties for its real estate investment trust (Reit) fund.
The eight assets, all based between Riyadh and the Eastern province of Saudi Arabia, are valued at around SAR700 ($187 million).
The transaction is still subject to approval from the Capital Market Authority, the Saudi exchange and the majority of unitholders.
The acquisitions follow the issuance of a $2.4 million dividend from the Reit fund for the three month period between April and June 2021.
The total value of assets held by Saudi Arabia’s investment funds increased by 11% to $61.86 billion during the first quarter of 2021 compared to the previous quarter.
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