Mevaf Rit aims to boost assets by 834.8M Riyals
The Middle East Financial Investment Company (MIFC Capital) announced that the management board of the MIFC REIT Fund approved an increase in the fund’s asset value by 834.8 million SAR through real estate acquisitions in the cities of Jeddah and Mecca. These transactions include the purchase of a commercial complex in Jeddah valued at 460 million SAR, financed through a combination of units and cash, and an acquisition of a development land in Mecca valued at 355 million SAR, financed by the issuance of units. These acquisitions aim to strengthen the fund’s portfolio and enhance the diversification of its real estate assets.
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