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BRIEF-Saudi's Riyad REIT announces completion of a property acquisition in Riyadh
July 13, 2017 / 6:33 AM / 2 months ago

BRIEF-Saudi's Riyad REIT announces completion of a property acquisition in Riyadh

July 13 (Reuters) - Riyad Reit

* Announces completion of a property acquisition in Riyadh for 136.6 million riyals financed through shariah-compliant bank debt

* As of this date the property is 82 percent occupied, generates current rent of 5.8 million Saudi riyals which retrospectively started in Q2 2017

* Hospitality component of property to be operated as Braira Hitten brand name, operations of hotel component is expected to commence in Q4 2017 Source text for Eikon: Further company coverage:

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