Alkhabeer Capital Co. disclosed details of the three real estate assets that Alkhabeer REIT Fund intends to acquire through a public offering, bringing the number of properties in which the fund invests to 10 properties.
These assets are:
Elegance Tower: The office tower, inaugurated in Q2 2020, is located on King Fahd Street in Al Morouj district, Riyadh, with a lease period of 5 years.
AlFarabi Colleges building: The educational property is located on the Arab Sea Road in Ishbilia compound, Riyadh. The property is rented for 25 years and is expected to boost the fund’s returns, as well as diversify sources of income.
Under-construction AlFarabi Colleges training building: The educational property is situated on the Arab Sea Road in Ishbilia compound, Riyadh. It is rented for 25 years.
Alkhabeer REIT owns a diverse real estate portfolio, including retail, administrative offices, residential, and educational sectors.
The multi-use properties constitute the largest share of the portfolio (41.4%), followed by the retail sector (26.9%), educational sector (16.9%), and residential sector (14.8%). The properties are spread over strategic locations in Jeddah, Riyadh and Tabuk.
Plazo Center, Home Works Center, Al Malga Compound are located in Riyadh, while Gallery Mall is in Tabuk. Elite Mall, Ahlan Court, and Bin 2 Commercial Center are located in Jeddah.
According to data compiled by Argaam, the subscription period to increase the total asset value of Alkhabeer REIT through public offering for investors will run from July 19 until Aug. 6, 2020.
Located in Jeddah, Alkhabeer Capital is specialized in asset management, alternative investments, and investment services, and is licensed by the Capital Market Authority no. (37 - 07074).
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