Riyad REIT Fund signed a sale and purchase agreement to acquire the building of Saudi Electronic University located in Ar Rabi district from The Higher Education Fund for approximately SAR 140 million.

Riyad REIT Fund (SASE:4330) signed a sale and purchase agreement to acquire the building of Saudi Electronic University located in Ar Rabi district from The Higher Education Fund for approximately SAR 140 million on October 12, 2017. The transaction will be financed through the fund capital increase. The property generated net income of SAR 12 million in 2016.