Riyadh-Mubasher: Arriyadh Development said it completed on Thursday its subscription to Riyadh Real Estate Development Fund I which was established by Alinma Investment.
The company participated in the fund with an in-kind stake representing 50% of its ownership in the land located in the North East of Riyadh.
The real estate developer subscribed to the fund with SAR 573 million, and it will receive SAR 401.1 million from selling its stake in the land.
The relevant financial impact will materialise as of the second quarter of 2016.
