Al-Ma'ather REIT Saudi Fund has completed a deal to purchase the property of the Burjeel Hospital building in Sharjah, with a value of 105 million dirhams, including 5 million dirhams of value-added tax.
According to Arabiya Net, Osoul and Bakheet Investment Company, the fund manager, said that the property is leased to VPS Healthcare, the operator of Burjeel Healthcare Centers in the UAE. Arab Emirates.
Osool and Bakheet Investment Company indicated that the tenant has a good reputation, and the annual rental value is 8 million dirhams, with a gradual increase in value of 500,000 dirhams every five years and for a rental period It is 20 years old, with an average return of 8.75% over the remainder of the contract.
and indicated that there are no transactions with related parties or transactions involving a conflict of interest in the agreement.
Osool and Bakheet Investments expected the deal to have a positive financial impact, by increasing the value of the fund's net income after deducting the fund's expenses, and increasing the average term of the fund's lease contracts.< /p>
