NCB Capital, the fund manager of AlAhli REIT Fund (1), said the fund completed the purchase of a 9,669 square meter land plot adjacent to Alandalus Mall, according to a bourse filing.
“The land ownership was transferred to the fund,” the statement added.
The land acquisition falls within Alandalus Mall expansion project, NCB Capital said, expecting a positive financial impact from the deal.
In October, Alandalus Property Co. signed a contract to sell a land plot (B/3) to Alahli REIT Fund 1 for SAR 43.51 million, Argaam reported.
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