Saudi Economic and Development Securities Company (SEDCO Capital), as the manager of SEDCO Capital REIT Fund, announces that it has completed the acquisition of a property that is currently occupied by Banque Saudi Fransi-Al Andalus branch for SR 27.25 million. The property is located on Imam Ali Bin Abi Talib Street in Al Rayan neighborhood in Dammam Kingdom of Saudi Arabia.

The property is fully leased to Banque Saudi Fransi who is not related to the owner of the property for an annual rent of SAR 1,500,000 for a period of 10 years starting from November 2015.

The acquisition is consistent with SEDCO Capital’s strategy to acquire quality real estate assets and build a well-diversified portfolio to enhance returns to unit holders.