The Saudi Economic and Development Company for Securities, SEDCO Capital, announced the signing of the SEDCO Capital REIT Fund, a sale and purchase agreement for the real estate assets portfolio that the fund manager (SEDCO Capital) wishes to acquire, and it consists of 8 properties developed, constructionally, and income-generating in different sectors distributed between Riyadh and the Eastern Province. With a value of nearly 700 million riyals.
According to Arabiya Net, SEDCO Capital said in a statement that it is conducting technical due diligence and legal due diligence.
It clarified that according to the instructions of the Capital Market Authority, the fund manager will seek to obtain the necessary approvals, such as the approval of the Capital Market Authority and the Saudi Tadawul and the approval of the majority of unit holders to increase the total assets of the SEDCO Fund. Capital Rate.
She indicated that the agreement comes within the framework of taking measures to start increasing the total assets of the SEDCO Capital REIT Fund.
The fund manager will disclose any developments in this regard at the time.
