Riyad REIT Fund (SASE:4330) acquired a property in Riyadh for approximately SAR 140 million on July 13, 2017. The acquisition was financed through a Sharia-complaint bank loan. Boudl Hotel and Resort is expected to operate the property under the brand name Braira Hitten. Operations are expected to begin in the fourth quarter of 2017. Riyad REIT Fund (SASE:4330) completed the acquisition of a property in Riyadh on July 13, 2017.