
Al-Andalus Real Estate agrees to sell Al-Andalus Mall and the Stepbridge Hotel in Jeddah to the REIT project.
The general assembly of Al-Andalus Real Estate Company approved the agreement to sell both Al-Andalus Mall and the hotel adjacent to it, which represent 56% of the company’s total assets as of 12/31/2016 (this percentage reached 47% on 6/30/2017), and emptying The aforementioned real estate assets are for the benefit of the real estate fund, which will be managed by NCB Capital.