Riyad REIT announces the signing of the sale and purchase agreement with the Higher Education Fund for the acquisition of a property

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Riyadh REIT Fund announces the signing of an agreement with the Higher Education Fund to acquire the building of the Saudi Electronic University on Thursday 12/10/2017 with a deal worth 137.65 million Saudi Riyals, which will be financed by the Fund capital increase announced on 22/5/2017. The Saudi Electronic University building is located in Ar Rabi district at the intersection of Abu Bakr al-Siddiq Road and Prince Saud bin Mohammed bin Muqrin Road in the north of Riyadh. The building covers an area of approximately 14,000 square meters and leased areas of more than 17,000 square meters, which has been fully leased to the Ministry of Education for the Saudi Electronic University, with yearly net income of 12 million Saudi Riyals and will be reflected on the date of the ownership transfer.