19 November
19/11/2019
Addendum Announcement from Derayah Financial on Signing of a purchase agreement to acquire a portfolio of logistics assets in the kingdom of Saudi Arabia
Link to previous announcement:
Further to Derayah Financial announcement published on 25/09/2019G, Derayah financial would like to announce the acquisition and transfer of a logistics real estate asset in Riyadh on Tuesday 22/03/1441H corresponding to 19/11/2019G as the legal and technical procedures were completed successfully. The purchase price is SR25.6 million which was funded through the available banking facility for Derayah REIT.
It is expected that the results of the acquisition will be positive on Derayah REIT’s financial performance in the second half of 2019.