Riyadh – Mubasher: MEFIC REIT Fund intends to increase its total asset value by SAR 770.89 million, according to a bourse filing.
The expansion follows the conclusion of negotiations for two major real estate acquisitions in Makkah and Jeddah.
For the Makkah property, a 36,000-square-meter land plot designated for development, the fund manager successfully negotiated a price reduction to SAR 302 million from the previously announced SAR 355 million.
This acquisition will be fully financed through the issuance of in-kind units to the seller.
Additionally, the fund finalized terms for a 66,588 square meter income-generating commercial complex in Jeddah valued at SAR 460 million.
The payment structure for the Jeddah asset includes SAR 367.75 million in in-kind units and a cash component of SAR 92.25 million.
MEFIC Capital intends to fund the cash portion through a SAR 101.14 million issuance of cash units to investors.
The total asset increase remains subject to approvals from the Capital Market Authority (CMA), Saudi Exchange (Tadawul), and unit holders.
MEFIC Capital expects the transactions to have a positive impact on the fund's financial position upon completion.
In the first half (H1) of 2026, the fund’s net losses hit SAR 5.37 million.
