Kuwait – Mubasher: KAMCO Real Estate Yield Fund’s (KREYF) announced that it acquired around 16,500 sq. meters of commercial real estate in Riyadh, Saudi Arabia.
The company stated that the step towards acquiring the property, which consists of storage space rented by one of the leading retail companies in the region, is a key element in KREYF’s core strategy to increase revenue while achieving the best returns for investors in the fund.
KAMCO pointed out that the KREYF’s ongoing success in terms of reaching a weighted average occupancy rate of 93% and growing KREYF’s size by 195% since inception demonstrates the market demand for such income-generating products.
In addition to that, KREYF managed to increase its rate of return since inception to 7.4% and to distribute $ 0.10 as cash dividends per unit for investors by the end of June 2016.
