For a total of 95 million Saudi riyals, the Mulkiyah - Gulf Real Estate REIT acquired a 76% stake in the Vivenda property located in the Al-Hada neighborhood of Riyadh on January 8, 2018, 77 million Saudi riyals were financed through Sharia-compliant banking facilities, and 18 million Saudi riyals were financed using the fund’s available cash. Mulkiyah Investment Company, the fund’s manager, subsequently announced the completion of the acquisition.

The Mulkiya Fund for the Development of Commercial Real Estate Complexes, managed by Mulkiya Investment Company, holds a 24% stake and is a related party. A lease agreement for the project was signed for a 20-year term, starting at 10,937,500 Saudi riyals for the first five years, with the rent increasing by 7% every five years, The rent is allocated proportionally based on the acquisition value, with Mulkiya Gulf Real Estate REIT’s share of the rent estimated at 8,312,500 Saudi riyals annually.