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SICO Capital Company Announces the Occurrence of Specific Event to SICO Saudi REIT Fund
| Element List | Explanation |
|---|---|
| Description of the Event | SICO Capital in its capacity as the Fund Manager of SICO Saudi REIT announces leasing Eskan Hospitality Assets (Eskan 4, Eskan 5 and Eskan 6) to Moro International Company for Apartments and Hotels for a gross rental annual value of SR 10,580,000 and net rental annual value after value added tax of SR 9,200,000. The duration of the lease contracts is for two years starting on 01/01/2024G and ending on 31/12/2025G. Gross value of the lease contracts for the full contract period: SR 21,160,000 Net value of the lease contracts for the full period after deducting value added tax: SR 18,400,000 |
| The Impact Caused by the Event | The impact caused by leasing the assets is positive as the current lease contracts will expire by 31/12/2023G. |
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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