Jadwa REIT's Tharawat Al Andaloseya Hotel. (Photo: Jadwa REIT)

Jadwa REIT Al Haramain has acquired two properties in Mecca, Saudi Arabia for a total consideration of SAR148 million (USD39.4 million).

The Saudi Stock Exchange-listed REIT completed the acquisition on 24 December.

One of the properties acquired is a hospitality building located 350 meters from Al Masjid Al Haram, the grand mosque of Mecca.

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By Ridzwan Rahmat

Ridzwan has been analysing REITs and business trusts since 2008, and personally manages a portfolio comprising mainly of SGX-listed REITs. He founded REITsWeek in 2013.