Saudi NCB Capital’s REIT fund targets expansion of Al Andalus Mall
NCB Capital, an investment banking and asset management firm in Saudi Arabia, said on Thursday its Al-Ahli REIT Fund will conduct a study to check the feasibility of expanding AlAndalus Mall.
The fund manager said in a bourse filing the study will cover the feasibility of adding external space for food and beverages in addition to a parking building to improve the services offered by the mall.
The Board of Directors of Al-Ahli REIT Fund announced earlier on Wednesday that it started the procedures of registering the fund with the General Authority for Zakat and Income for the purpose of Zakat.
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