Saudi Arabia’s Al-Ma’athar REIT to acquire UAE’s Burjeel hospital for $27.2m

Saudi Arabia’s Al-Ma’athar REIT to acquire UAE’s Burjeel hospital for $27.2m
The transaction is seen to boost the fund's portfolio (File/Supplied)
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Updated 14 October 2021
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Saudi Arabia’s Al-Ma’athar REIT to acquire UAE’s Burjeel hospital for $27.2m

Saudi Arabia’s Al-Ma’athar REIT to acquire UAE’s Burjeel hospital for $27.2m
  • The buildup area spans 16,758 square meters with an annual rental value of 8 million dirhams

Saudi Arabia’s Al-Ma’athar REIT has signed an agreement to acquire the Burjeel hospital building in Sharjah, UAE, for 100 million dirhams ($27.2 million).

The non-binding agreement will expire on Dec. 12, the fund’s manager Osoul and Bakheet Investment, said in a bourse filing.

The buildup area spans 16,758 square meters with an annual rental value of 8 million dirhams. 

The transaction is seen to boost the fund's portfolio.