Derayah REIT signs $37.33mln acquisition deal for Saudi logistics complex – ZAWYA

Derayah REIT signs $37.33mln acquisition deal for Saudi logistics complex – ZAWYA

derayah reit signs $37.33mln acquisition deal for saudi logistics complex acquisition will have positive impact on firm's performance in q4 2020    image used for illustrative purpose. aerial view of cityscape at night, riyadh, saudi arabia. saudi-based real estate investment traded fund, derayah reit, has signed an acquisition agreement worth 140 million saudi riyals ($37.33 million) for a multi-use logistics complex in riyadh.the transfer of the property is expected to be completed within 30 days from the signing of the deal on july 20. however, it can be extended by mutual consent."the property is a multi-use logistics complex consisting of 193 units, where 164 of such units are earmarked as storage warehouses, and the remaining 29 units are earmarked as retail warehouses and offices,“ the company said in a statement.the transfer of the property is expected to be completed within 30 days from the signing of the deal on july 20. however, it can be extended by mutual consent."the property is a multi-use logistics complex consisting of 193 units, where 164 of such units are earmarked as storage warehouses, and the remaining 29 units are earmarked as retail warehouses and offices,“ the company said in a statement."the property will be