The Saudi Economic and Development Securities Company (SEDCO Capital), in as manager of the SEDCO Capital REIT Fund, today announced the completion of the process to increase the limit of facilities granted to the fund by its strategic partner, Al Rajhi Bank, by 450 million riyals.
SEDCO Capital stated, in a statement to Saudi Tadawul, today, Sunday, that the total volume of concessions granted to the fund will be 1.05 billion riyals.
He added that tale the procedure coincides with the fund manager’s announcement of the completion of the acquisition of the new real estate portfolio.
By increasing the limit of structures, the fund manager aims to use part of it to acquire the new real estate portfolio and to finance any acquisition operations future that will maximize targeted returns for unitholders and achieve the fund’s objectives.
Read More About: Business News