Logo of Riyad REIT Fund
Riyad Capital announced that Riyad REIT Fund invested SAR 24 million in a headquarters office building in Brussels, Belgium.
The office building covers a land area of 10,186 square meters (sqm), as well as approximately 755 parking spaces and net leasable area of 35,536 sqm in Brussels, according to a bourse filing.
The investment is fully funded from the Shariah-compliant facilities available to Riyad REIT.
The investment is expected to generate an average annual yield of 8% to Riyad REIT over a five-year investment period.
The property is the PricewaterhouseCoopers (PwC) headquarters in Belgium, a Class A office building. PwC is the second largest professional services company and is considered one of the Big Four accounting firms.
The property is situated within Airport District – a hub for international companies that is characterized by the strong presence of international corporates, excellent mobility, and low property taxes.
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