Musharaka REIT Fund (SASE:4335) managed by Musharaka Capital entered into a non-binding agreement to acquire Gardino Hotel for SAR 85.5 million on February 28, 2021. Musharaka expects to complete the required administrative and legal procedures related to property title deed transfer within 90 days post the announcement date. The acquisition will be through a sharia compliant credit facility to finance the planned acquisition.