Alinma Retail REIT announces failure of Almakan Mall Tabuk auction

14/12/2023 Argaam

Alinma Retail REIT announces failure of Almakan Mall Tabuk auction

Logo of Alinma Investment Co.

Alinma Investment Co., manager of Alinma Retail REIT Fund, announced the unsuccessful auction for “the future front” to sell Almakan Mall Tabuk.

 
In a statement to Tadawul today, Dec. 14, the fund manager said it will look for other alternative opportunities that serve the interest of the unitholders.
 
Alinma Investment announced holding an auction to sell Almakan Mall in Tabuk on Dec. 13, Argaam reported earlier.
 

The sale of Almakan Mall in a public auction came in implementation of the fund manager’s strategy for Alinma Retail REIT’s real estate portfolio, which aims to reduce the concentration of assets in secondary cities and increase those in main ones.

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