Derayah REIT acquires medical centre at SAR 22m

Riyadh – Mubasher: Derayah Financial company has said that its subsidiary, Derayah REIT Fund has acquired Raseel Medical Center at a value of SAR 22 million ($5.87 million).

The transaction’s value was funded through loans which were awarded to Derayah REIT, according to a statement on Thursday to the Saudi Stock Exchange (Tadawul).

The building is fully leased to Raseel Medical Center with an annual return of SAR 1.69 million, while the leasing period will last for 20 years.

The rent’s value will rise 10% every five years, the statement added.

The deal financial impact is expected to appear in the financial results of the second half of 2018.

Derayah REIT Fund’s stock shed 0.61% to close Thursday at SAR 8.12.

Mubasher Contribution Time: 30-Aug-2018 13:39 (GMT)
Mubasher Last Update Time: 30-Aug-2018 13:44 (GMT)