Al Khaleej Training and Education extended on Jan. 4 a memorandum of understanding (MoU) with ANB Invest to set up a Real Estate Investment Traded Fund (REIT) until March 5, 2018.
The preliminary agreement was extended to complete the required procedures under the same terms agreed earlier, the company said in a statement to Tadawul on Sunday.
The MoU was signed between both parties on July 5, 2017 and was extended on Dec. 3, data compiled by Argaam showed.
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.
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