CMA nods to increasing Jadwa REIT Saudi Fund’s assets

Jadwa REIT Saudi Fund aims to acquire real estate assets

  
An employee counts Saudi Riyals bills at a money exchange office in central Cairo, Egypt, March 20, 2019. Image for illustrative purposes.

An employee counts Saudi Riyals bills at a money exchange office in central Cairo, Egypt, March 20, 2019. Image for illustrative purposes.

REUTERS/Mohamed Abd El Ghany

Riyadh – Mubasher: Jadwa Investment Company announced that the Saudi Capital Market Authority (CMA) gave the green light for raising the value of Jadwa REIT Saudi Fund’s assets by SAR 370 million.

Through this increase, the fund aims to acquire real estate assets, including the Riyadh Boulevard complex that is located in Hittin district, according to a bourse filing on Tuesday.

The fund manager Jadwa Investment will later announce any further developments in this regard.

In a separate disclosure, the Saudi Exchange (Tadawul) said the CMA approved the fund’s supplementary annex that was requested by Jadwa Investment to increase the value of the total assets by issuing additional units.

Source: Mubasher

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