Alkhabeer REIT to repay SAR 150M loan from sale of 2 properties

09:21 AM (Mecca time) Argaam
Alkhabeer REIT to use proceeds from sale of two property properties to repay

Alkhabeer REIT to use proceeds from sale of two property properties to repay

Alkhabeer REIT Fund board of directors approved on Dec. 25 using the proceeds from the sale of B&Q and Ahlan Court properties to repay SAR 150 million of the facilities granted under the fund’s initial public offering (IPO).
 

This move followed the credit facility agreement signed between the fund manager Alkhabeer Capital and Al Rajhi Bank, at SAR 1.03 billion, with a maturity extending to September 2031, for any utilized facilities.

 

The fund drew SAR 737.5 million from these facilities – SAR 340 million for the fund’s IPO and SAR 397.5 million for the first additional offering, according to a Tadawul statement.

 

The relevant financial impact is expected to appear in reducing annual financing costs while improving the fund performance.

 

According to data available on Argaam, Alkhabeer Capital announced in March 2024 completing the sale of the B&Q property (formerly Home Works Center), located in Riyadh’s King Fahd District, for SAR 87.6 million.

 

The company also announced in August 2025 the sale of Ahlan Court property in Jeddah’s Al-Andalus District, at a net sale price of SAR 71.75 million.

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