Jadwa REIT Saudi unitholders to vote on SAR 370 mln asset value hike on Sept. 2

- Logo of Jadwa REIT Saudi Fund

Jadwa REIT Saudi Fund's unitholders will vote on increasing the total value of the fund’s assets by SAR 370 million on Sept. 2, through offering additional units, with the aim of acquiring an additional real estate asset and paying the related expenses and costs.

In a bourse statement, Jadwa Investment, the fund manager, stated that the unitholders will also vote on the supplementary annex of the fund's terms and conditions, published on Aug. 18, which were prepared to reflect the increase in the total value of the fund’s assets.

In March, Jadwa REIT Saudi Fund's board of directors gave the go-ahead for increasing the fund's total assets by SAR 370 million in order to acquire a new real estate asset in Riyadh.

In July, the Capital Market Authority (CMA) approved the supplementary annex of the terms and conditions (T&Cs) of Jadwa REIT Saudi Fund, Argaam earlier reported.