CMA approves Al Riyad Capital’s fund

SAUDI ARABIA: The Capital Markets Authority (CMA) approved Al Riyad Capital’s public offering of the Al Riyad SAR Liquidity Fund on the 10^th October 2024.

Additionally, Al Riyad Capital, the manager of the Riyad REIT Fund, announced the sale of the Al-Shatea Tower in Dammam on the 10^th October 2024, for SAR71.5 million (US$19.02 million), excluding real estate transaction tax. The fund originally acquired the property in 2016 for SAR97 million (US$25.81 million), generating SAR52.33 million (US$13.92 million) in rental revenues up to the 30^th June 2024.