Saudi Arabia's Alkhabeer REIT Fund takes over Elegance Tower

The takeover will expand the fund’s asset base and diversify its income sources

  
Skyscrapers in Riyadh, Saudi Arabia. Image used for illustrative purpose

Skyscrapers in Riyadh, Saudi Arabia. Image used for illustrative purpose

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Riyadh –  Alkhabeer REIT Fund that is managed by Alkhabeer Capital has completed the acquisition of Elegance Tower, an office tower located in King Fahd Road in Riyadh city.

The takeover will expand the fund’s asset base and diversify its income sources, hence, boosting its financial results and performance, according to a bourse statement on Tuesday.

The fund manager did not provide the acquisition value.

Alkhabeer Capital is a prominent asset management company specialising in alternative investments. It provides innovative world-class products and services to institutions, family offices, and qualified high-net-worth investors.

Source: Mubasher

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