Wednesday, March 14, 2018 The Capital Market Authority (CMA) approved the request by Riyad Capital, the fund manager, to raise the capital of Riyad Riyat Fund from SR 500 million to SR 1.633 billion to acquire new real estate assets. The Market explained that the Fund Manager’s request met the regulatory requirements for disclosure, in accordance with the Real Estate Investment Funds Regulations and the instructions for real estate investment funds. The fund aims to increase capital to acquire high quality income generating properties, develop and operate new properties, provide current income and achieve stable and sustainable cash distributions to unit holders through developed real estate assets that are structurally structured and capable of achieving periodic income. 4 major cities in Saudi Arabia and in various real estate sectors. The Fund intends to finance the acquisition and operating costs through the Fund’s subscription amounts, with a minimum subscription of SAR 500 and a maximum of SAR 30 million, in Shariah-compliant financing, as well as returns from the Fund’s investments.
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