SEDCO Capital REIT extends the memorandum of understanding to purchase real estate in Dubai

SEDCO Capital REIT extends the memorandum of understanding to purchase real estate in DubaiSEDCO Capital REIT Fund logo


The Saudi Economic and Development Securities Company, manager of SEDCO Capital REIT Fund, announced the extension of the period of the memorandum of understanding to purchase a property in Dubai for an additional period of 30 working days, ending on August 5, 2024.


A fund manager explained in a statement today on Tadawul that the extension of the memorandum of understanding comes for the purpose of completing the legal and technical due diligence of the property.

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According to data numbersLast November, SEDCO Capital REIT signed a memorandum of understanding to purchase an educational complex property in the United Arab Emirates at a value of 160.5 million dirhams (not including any fees related to the acquisition process). The memorandum of understanding was extended twice last January for a period of 30 days, and last March for a period Additional 30 days.

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