Meefak Reet aims for 834.8M Riyal asset boost

MIFIK Capital announced that the Board of Directors of MIFIK REIT Fund approved increasing the fund's assets by SAR 834.8 million through acquisitions of real estate assets in Jeddah and Mecca. The deal includes the purchase of a commercial complex in Jeddah valued at SAR 460 million, financed by the issuance of both units and cash, and an acquisition of a development land in Mecca valued at SAR 355 million, covered by the issuance of units. This development is part of the fund's efforts to diversify its portfolio and achieve positive performance.

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