Mulkia REIT finalizes title deed, ownership transfer for Al Jadah complex

Logo of Mulkia Gulf Real Estate REIT Fund

Mulkia Investment, manager of Mulkia Gulf Real Estate REIT Fund, announced finalizing the title deed and ownership transfer for the second phase of the acquisition of Al Jadah mixed-use complex in favor of the fund, according to a statement to Tadawul.

The fund raised SAR 280.53 million in cash and in-kind subscriptions in its recent capital increase offering. This included cash subscriptions of SAR 245.5 million, representing a coverage ratio of 309.66% to the total cash offering based on the minimum limit, and 114.50% based on the maximum limit of the cash offering, Argaam's data showed.

A total of 70,410 subscribers, comprising retail and institutional investors, placed 33,240 subscription requests. The subscription period ended on March 29.