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RIYADH: The Jadwa REIT Saudi Fund has won regulator approval to boost the value of its assets by SR370 million ($98.5 million) as it targets a major mall deal.
It paves the way for the fund to acquire the Riyadh Boulevard complex in the Hittin district of the capital.
“This acquisition would expand and diversify the asset base currently owned by the fund, and therefore the fund manager expects that the impact of this development to be positive in general on the performance and results of the fund,” the statement said.
The Boulevard Riyadh is located near the King Abdullah Financial Center as well as the historical Diriyah Gate.