Alkhabeer Capital REIT to acquire Jeddah industrial assets

SourceZawya
SectorFinancial Markets
CountrySaudi Arabia

Alkhabeer Capital, the asset manager specialising in shariah-compliant investments and financial services, said its Alkhabeer REIT, a publicly-offered closed-ended shari’a-compliant real estate investment traded fund, will use proceeds from the second additional offering to expand its asset portfolio through two key acquisitions in the educational and industrial sectors.
Its real estate portfolio includes assets diversified across the retail and industrial sectors, as well as in offices, residential and educational properties, located in strategic locations in Jeddah, Riyadh and Tabuk.

The Alkhabeer Capital Fund will acquire two high-quality properties – Vision Colleges and Akun Warehouses immediately after the end of the subscription period at less than their estimated value of SR313.4 million ($83 million) against the average estimated value of the two properties of SR316.3 million ($84.2 million), according to the latest evaluation reports.

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