RIYADH: SEDCO Capital REIT Fund’s board has approved acquiring two income-generating real estate assets worth SR700 million ($187 million), located in Riyadh and Jeddah.

This acquisition will be covered by new units and by using banking facilities in accordance with the Fund’s terms and conditions, according to a bourse filing.

The Fund expects that this acquisition will positively impact its overall performance, as it seeks to add value to its portfolio, as well as its unitholders.