22-07-2025
Mulkia REIT finalizes acquisition, ownership transfer of Dammam land
Mulkia Gulf Real Estate REIT (Mulkia REIT) finalized the acquisition as well as the ownership transfer of Dammam commercial land plot, fund manager, Mulkia Investment Co., said in a statement to Tadawul.
The acquisition will likely boost the company's diversified real estate portfolio, in addition to increasing the fund returns upon finalizing the projects planned for the transaction-related asset.
Gulf Real Estate Co. is considered a related party as it owns over 5% of the fund's units.
The deal included no preferential terms, the statement added.
The fund signed an agreement in May to acquire a commercial land plot, spanning 11,140 square meters, in Dammam, for SAR 33.4 million, excluding VAT and brokerage fees, data available on Argaam showed.
