Saudi Alkhabeer Capital gets approval to up REIT asset value

A leading asset manager specialising in shari'a-compliant investments and financial services, Alkhabeer Capital pointed out that the assets value boost was aimed at carrying out key regional acquisitions

  
Saudi Capital Market Authority headquarters is seen in Riyadh, Saudi Arabia June 26, 2019. REUTERS/Nael Shyoukhi - RC1C5289E220 Image used for illustrative purpose

Saudi Capital Market Authority headquarters is seen in Riyadh, Saudi Arabia June 26, 2019. REUTERS/Nael Shyoukhi - RC1C5289E220 Image used for illustrative purpose

Nael Shyoukhi - RC1C5289E220

Saudi-based Alkhabeer Capital said it had won approval from Capital Market Authority to increase the total asset value of its real estate investment trust (REIT) fund.

A leading asset manager specialising in shari'a-compliant investments and financial services, Alkhabeer Capital pointed out that the assets value boost was aimed at carrying out key regional acquisitions. These include:

*Vision College for Education (previously known as Al Farabi College for Education): An educational property located in Al-Rayyan district, east of Al-Haramain highway, Jeddah.
*Akun Cold Storages: Cold storage warehouses located at the intersection of King Faisal Road and South Corniche Street, King Faisal Naval Base, Jeddah.
*Industrial Assets: Indusrial and logistical assets of three factories located in Al-Obeikan Industrial City in Riyadh.

Alkhabeer Capital said these acquisitions will help the firm expand and diversify the fund's asset base, which is expected to positively impact its results and performance.-TradeArabia News Service

Copyright 2021 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (Syndigate.info).

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.

More From Islamic Finance