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Announcement by Al-Rajhi Capital regarding Non-Fundamental changes to Al Rajhi REIT Fund
| Element List | Explanation |
|---|---|
| Introduction | Al-Rajhi Capital announces the approval of the Fund’s Board of Directors of a non-fundamental change to Al Rajhi REIT Fund |
| Change Effective Date | 2025-03-13 Corresponding to 1446-09-13 |
| Change Details | Al Rajhi Capital approval of the Fund’s Board of Directors of a non-fundamental change to Al Rajhi REIT fund; Such change will become effective on 13/09/1446H corresponding to 13/03/2025G. The details of the non-fundamental change are as follows: • Appointing Sustainable Property Company to manage both Al Narjes Plaza and Oasis mall properties after the end of the mandatory period of the rental contract for each property. • As for Narjis Plaza, this appointment will entail a property management fee of 8% of the rent collected, except for Tamimi Markets contract, which will be calculated as 5% of the rent collected until the end of the contract. • As for Oasis Mall, this appointment will entail a property management fee of 7.5% of the rent collected, except for Landmark Markets contract, which will be calculated as 5% of the rent collected until the end of the contract, in addition to 25,000 riyals per month plus 5% from the collected rents of the new tenants as marketing & leasing fee for one year only. |
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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