Al Khaleej Training and Education has signed a memorandum of understanding (MoU) with ANB Invest to set up a Real Estate Investment Traded Fund (REIT), the company said in a statement to Tadawul on Thursday.
The REIT is expected to focus on the education sector by constructing or purchasing educational buildings.
Under the four-month MoU, Al Khaleej Training plans to move its six existing properties to the new REIT fund, including the company’s Riyadh headquarters, three schools and two training centers.
Financial impact will be determined upon the signing of the final agreement, the statement said.
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