IssuerAnnouncementDetailsV2Portlet
Actions
Mulkia investment company Announces the Occurrence of Specific Event to Mulkia Gulf Real Estate REIT
| Element List | Explanation |
|---|---|
| Introduction | Mulkia Investment Company, as a Fund Manager & Operator of Mulkia Gulf Real Estate REIT Fund ("the Fund"), announces signing an acquisition agreement to acquire a new real estate property for the benefit of Mulkia Gulf Real Estate REIT fund (“Malathak tower 2”) located in Al Maathar neighborhood, Riyadh city as per the following details: |
| Description of the Event | Mulkia Investment Company, as a Fund Manager & Operator of Mulkia Gulf Real Estate REIT Fund ("the Fund"), announces signing an acquisition agreement to acquire a new real estate property for the benefit of Mulkia Gulf Real Estate REIT fund (“Malathak tower 2”) located in Al Maathar neighborhood, Riyadh city as per the following details: Property information: A mixed use residential and commercial tower income generating property located in Al Maathar neighborhood, Riyadh city on King Saud Road, with a total build up area of 55,320.17 SQM on a land area of 6,217.47 SQM also a land of 3,069.37 SQM used as parking area. The expected annual rental income for the property for the first to fifth years is 20,000,000 Saudi riyals based on a rental commitment contract. The property is distinguished by its presence in a central area surrounded by several government headquarters, such as the Ministry of Interior, the National Information Center, a number of hospitals and others, as well as a number of main headquarters of banks and major companies. The value of the acquisition of the property: 200,000,000 Saudi riyals, not including the amount of tax and commission. |
| The Impact Caused by the Event | The fund manager expects a positive effect of the acquisition as this will lead to increasing the uses diversification as well as the geographical distribution, also the location of the property is close to a densely populated area and close to many ministries and services. Also, there is expected positive effect on fund’s revenues |
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.
Share
Company Performance
Key Parameters
Last Price 5.54
Net Change -0.02 (-0.36%)
Value Traded (Sar) 1,220,330.9
Volume Traded 220,256
LoginPortletPopupv2
Actions
AddtoWatchlistv2
Actions