Riyadh – Mubasher: Muscat Capital said Al Mashaar REIT has signed a memorandum of understanding (MoU) to invest SAR 135 million in i- Offices, a Riyadh-based commercial building.
The ownership transfer procedures for the real estate property will be completed within a period of 20 days from the signing date, extendable, according to a bourse statement on Monday.
The property is comprised of three class A income-generating commercial office towers located in Thumama Road, close to Aliya Plaza Complex.
The transaction is expected to reflect positively on the fund’s results for 2021.
