Al-Azizia REIT Updates Asset Value Growth
Capitel Brokerage Company, as the manager of Al-Azizyah REIT, announced that the fund's Board of Directors has approved increasing asset value through the acquisition of developed commercial usufruct rights in Riyadh City worth 52 million SAR, aimed at enhancing performance and implementing a value-boosting strategy for investors. The deal is financed through the issuance of new units and is subject to approval by the relevant regulatory authorities and the capital market. The rights include two properties in the commercial sector in Riyadh, with a direct interest held by a Board member who owns 35% of the selling company. If completed, this transaction is expected to improve the fund's performance results.
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