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Announcement By SICO Capital Company regarding the occurrence of a specific event in SICO Saudi REIT Fund
| Element List | Explanation |
|---|---|
| Description of the Event | SICO Capital Company announces in its capacity as the fund manager of SICO Saudi REIT leasing Eskan Hospitality Towers, which are owned by the Fund (Eskan Tower 4, Eskan Tower 5 and Eskan Tower 6) to Moro International Company for Apartments and Hotels, and for a net lease value of SR 9,130,435. The lease agreements expire on 31 December 2023, which allows the Fund Manager to re-assess the leasing rates for these properties prior to the Ramadan and Hajj Season of the Hijri Year 1445, in-line with the prevailing market conditions and what serves the interests of the unitholders. |
| The Impact Caused by the Event | The impact will be positive as Eskan 5 Tower lease agreement expired on 26 December 2021 while the lease agreements for Eskan 4 and Eskan 6 Towers expired on 26 December 2022. |
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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Last Price 4.54
Net Change 0.0 (0.0%)
Value Traded (Sar) 403,066.35
Volume Traded 88,989
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