BRIEF — First Avenue Sells Investment Units In La Perle Fund For 131 Million Riyals

Oct 15 (Reuters) — FIRST AVENUE FOR REAL ESTATE DEVELOPMENT COMPANY SJSC: First Avenue - Sells Investment Units In La Perle Fund For 131 Million Riyals First Avenue- Agrees With Awj Real Estate Development And Investment Co To Sell Its Entire Holding Of Investment Units In La Perle Real Estate Fund First Avenue- Deal In Exchange For Acquisition Of Awj’s Entire Holding Of Investment Units In Al Shati Real Estate Fund First Avenue- Under Agreement, First Avenue’s Ownership Stake In Al Shati Real Estate Fund Will Increase From 32.7% To Approximately 81.6% First Avenue- Will Fully Divest Its Investment In La Perle Real Estate Fund First Avenue- Company Expects To Recognize A Gain Of Sar 3.6 Million First Avenue- Final Financial Impact Will Be Determined Upon Completion Of Transfer Of Investment Units And Settlement Of Co’s Investment In Fund Source text:... Further company coverage: 9610.SE (Reuters.Briefs@thomsonreuters.com;)