Riyadh – Mubasher: SEDCO Capital has announced that SEDCO Capital REIT Fund completed a property acquisition at a value of SAR 345 million.
The facility is under development with total area of 32,210 square metres, according to a statement to the Saudi Stock Exchange (Tadawul).
The first tranche of the property’s value amounts to SAR 276 million and it will be paid currently, while the remaining SAR 69 million amount is to be settled after finishing the sale of whole facility, the fund manager said.
SEDCO Capital expected that the deal will impact positively on the fund’s distributions.
By 12:11 pm Saudi time, the fund's stock inched up 0.65% to SAR 7.78.
