02 Jan 2022
Saudi Economic and Development Securities Company (“SEDCO Capital”), in its capacity as the Fund Manager of SEDCO Capital REIT Fund, announces increasing the facility limit granted to the Fund by its strategic partner, Al Rajhi Bank, by an amount of SAR 450,000,000. Thus, the total amount of facilities granted to the Fund is SAR 1,050,000,000.
This measure coincides with the Fund Manager's announcement about acquiring a new real estate portfolio. Where the Fund Manager aims, by increasing the facility limit, to use part of the granted facilities to acquire the new real estate portfolio, and to finance any future acquisition deals that would maximize the targeted returns for unitholders and achieve the Fund's objectives.