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Announcement by Alinma investment Company regarding the occurrence of a specific event in Alinma Retail REIT Fund
| Element List | Explanation |
|---|---|
| Description of the Event | Alinma Investment Company, in its capacity as manager of the Alinma Retail REIT Fund, announces the holding of an auction to sell Al Makan Mall - Tabuk - “The Mall” on December 13, 2023 AD, corresponding to Jumada Al-Thani 29, 1445 AH.. The mall has a strategic location in the heart of the city of Tabuk on a land area of (21,428.13 m2) overlooking King Khalid Road, which is a main road that facilitates access to the mall from all Tabuk. The Mall consists of two floors for shops with various sizes that meet the needs of all types of stores, in addition to a basement which includes 319 parking lots, and 171 parking lots in front of the mall. The process of putting Al Makan Mall - Tabuk - up for sale in a public auction comes in implementation of the fund manager’s strategy regarding the real estate portfolio owned by the Alinma Retail REIT Fund, which aims to reduce the concentration of assets in secondary cities and increase assets in the main cities. |
| The Impact Caused by the Event | It is expected that the proceeds from the sale of Al Makan Mall - Tabuk - will be used to finance future investment opportunities and achieve the fund’s objectives |
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.
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