Al Rajhi REIT Fund (SASE:4340) acquired Rowad AlKhaleej International School property in Dammam for approximately SAR 240 million on December 24, 2019. As reported, the purchase price will be partly paid through issuance of 13.6 million in-kind units and balance in cash. The acquisition will be financed with existing debt facility from Al Rajhi Bank. The property reports an annual rent payment of SAR 18.94 million. This acquisition is expected to have a positive impact on Al Rajhi REIT’s financial performance going forward. Al Rajhi REIT Fund (SASE:4340) completed the acquisition of Rowad AlKhaleej International School property in Dammam on December 24, 2019.