DMCC completes AED 46m real estate transaction with Saudi Musharaka Capital

DMCC completes AED 46m real estate transaction with Saudi Musharaka Capital

UAE – Mubasher: Dubai Multi Commodities Centre (DMCC) has completed a real estate transaction for Saudi Arabia-based Musharaka REIT Fund at a total value of AED 46 million ($12.6 million).

As a fund Manager for Musharaka REIT, Musharaka Capital is the representative of the Fund in the transaction, according to a press release on Monday.

Through the transaction, Musharaka REIT acquired a single plot of land with a self-storage facility on it, spanning across 5,400 square metres (sqm) at the DMCC's and Jumeirah Lakes Towers (JLT) business district.

The self-storage facility will be leased by Musharaka to the ‘The Box Self Storage Services Co' in Dubai with an initial rental yield of 8.7%.

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