2024-01-25
AlAndalus Real Estate agrees to sell AlAndalus Mall and the Stepbridge Hotel in Jeddah to the REIT project.
The general assembly of AlAndalus Real Estate Company approved the agreement to sell both AlAndalus 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.