The Saudi Economic and Development Securities Company (SEDCO Capital), in its capacity as the Fund Manager of SEDCO Capital REIT Fund, announces the signing of a memorandum of understanding on 13 Shaban 1446H, corresponding to 12 February 2025, to purchase a portfolio of diversified assets (“the properties”) located in several cities within the Kingdom, from a single seller.

Event Description:

Signing a memorandum of understanding to purchase a portfolio of diversified assets (“the properties”), according to the following details:

  • The targeted assets are fully developed, income-generating properties, with a total land area of approximately 152,083 sqm and a total built-up area of 142,260 sqm.
  • The assets are distributed across the cities of Riyadh, Al Khobar, Dammam, Hafar Al-Batin, Al Ahsa, and Abha, include office and retail properties with an average occupancy rate of 98.78% and an average expiry lease reaches to 7 years.
  • The estimated acquisition value is SAR 750,000,000, with final value to be determined upon completion of market valuation, legal and technical due diligence.
  • If the deal is completed, it will be financed through the fund’s available cash, existing credit facilities, and a partial in-kind contribution by the seller.
  • The agreement is conditional upon the successful completion of legal and technical due diligence within six months from the signing date.

The Impact Caused by the Event:

The Fund Manager expects that the impact resulting from this event will be positive in general on the Fund’s real estate portfolio and on the performance and results of the Fund, in the event this transaction is completed.

 

The Fund Manager will disclose any developments in this regard in due course