Riyad Capital announced the completion of Riyad REIT's acquisition of a real estate asset in Riyadh yesterday with a building area of 26,520 square meters, the building was acquired for SAR 184,437,500 with a yield of 8%.

The acquisition was financed by a Shari'ah-compliant bank financing, and the real estate asset is considered newly built and fully leased to a government entity with a net lease contract (NNN) for 3 years renewable.

The real estate asset was acquired without any conditions and without related parties and the company expects the financial impact of this transaction to be generally positive on the fund's results by the end of the second half of this year.

The company expects the financial impact of this transaction to be positive overall on the fund's results by the end of the second half of this year.