NCB Capital Company announces the occurrence of specific event related to AlAhli REIT Fund (1) – The completion of acquisition of the land adjacent to Al-Andalus Mall
NCB Capital Company, the fund manager of Alahli REIT Fund (1) (the “Fund”), announces the completion of acquisition and transfer of title deed of the land adjacent to AlAndalus Mall (one of the Fund’s assets) by AlAhli REIT Fund (1) with a total area of 9,669 square meters. The land was acquired for a price of SAR 43,510,500, and the land acquisition is part of AlAndalus Mall expansion plan.
NCB Capital Company announced on 09 Rabi Al-Awwal 1442 corresponding to 26 October 2020 that it has signed a purchase agreement for the acquisition of the aforementioned land.
The project, upon completion, is expected to have a positive impact on Al-Andalus Mall and the Fund.