December 28, 2017 / 6:56 AM / in 10 months

BRIEF-Taleem REIT Signs Real Estate acquisition MoU with Al Rajhi United

Dec 28 (Reuters) - TALEEM REIT FUND:

* SIGNS MOU WITH AL RAJHI UNITED TO ACQUIRE AN EDUCATIONAL REAL STATE LOCATED IN AL NUZHA DISTRICT IN RIYADH

* FUND WILL ACQUIRE PROPERTY BY ISSUING 22.5 MILLION NEW UNITS OF TALEEM REIT FUND TO THE SELLER‍​

* PROPERTY IS LEASED TO AL ROWAD INTERNATIONAL SCHOOLS UNTILL DEC 2041 WITH ESTIMATED REMAINING CONTRACT VALUE OF 498.14 TO 553.49 MILLION RIYALS

* MOU IS VALID FOR 45 DAYS AND IS EXTENDABLE AT MUTUAL CONSENT OF BOTH PARTIES Source text for Eikon: Further company coverage: )

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