Logo of Mulkia Gulf Real Estate REIT Fund
Mulkia Gulf Real Estate REIT Fund signed an acquisition agreement to buy a new real estate property, Malathak Tower 2, in Riyadh's Al-Maathar neighborhood, Mulkia Investment Co., fund manager and operator, said in a statement to Tadawul.
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Acquisition details |
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Property |
Malathak Tower 2 |
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Location |
Al-Maathar neighborhood, Riyadh |
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Type |
Income-generating property (Commercial residential space) |
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Description |
Residential and commercial units |
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BUA |
55,300 sqm |
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Space |
6,220 sqm, plus another 3,100 sqm land plot |
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Annual Rental Income (1st-5th year) |
SAR 20 mln in line with a lease contract |
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Acquisition Value |
SAR 200 mln |
Located in a central and highly populated location, the property is surrounded by several government agencies. The acquisition deal will likely reflect positively on the fund, diversifying its activity portfolio while boosting returns.
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