SAUDI ARABIA: Alinma Investment, the fund manager of the Alinma Retail REIT Fund, has signed an agreement to acquire an office property located in the Al Qirawan district of Riyadh on the 17th November 2024.
The total purchase price is SAR380 million (US$101.14 million), excluding real estate transaction tax and the net income from the property is expected to be worth SAR34 million (US$9.04 million).
The agreement is contingent on the completion of a due diligence review and the purchase will be financed through credit facilities from Alinma Bank.
