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REIT to acquire three flagship hotel towers
(MENAFN) The Securities Depository Center Co. (Edaa) said in a statement to the Saudi Stock Exchange (Tadawul) on Sunday that Al Masha'ar REIT units have been added to investor accounts.
Sharia-compliant, the REIT is funded with a target size of SAR572.4 million, a total of 57.24 million units was delivered at SAR10 per unit in the fund's initial public offering (IPO).
The fund can make investments up to 25% of total assists in real estate development projects but it is goaled for acquiring three flagship hotel towers in Makkah.
Sharia-compliant, the REIT is funded with a target size of SAR572.4 million, a total of 57.24 million units was delivered at SAR10 per unit in the fund's initial public offering (IPO).
The fund can make investments up to 25% of total assists in real estate development projects but it is goaled for acquiring three flagship hotel towers in Makkah.
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