Muscat Capital decided today not to renew the agreement to acquire warehouses in Riyadh for Al Mashaar REIT for an additional period, the fund manager said in a statement to Tadawul on Tuesday.
The decision is expected to have no financial impact, it said, adding it will continue to study the market and pick investment opportunities to acquire high-quality and value-added properties.
Muscat Capital signed an agreement in Dec. 2019 to acquire 8 warehouses in Riyadh for Al Mashaar REIT, for a total amount of SAR 129.15 million, extending the agreement for 3 months.
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