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Derayah Financial Company Announces the Occurrence of Specific Event to Derayah REIT Fund
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DERAYAH REIT
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1446/11/27 25/05/2025 09:12:40
| Element List | Explanation |
|---|---|
| Introduction | Derayah Financial Company (“Fund Manager”), in its capacity as the manager of Derayah REIT Fund (“Fund”), announces the issuance of a court ruling for the Fund regarding Motoon Tower – Riyadh. |
| Description of the Event | Derayah Financial Company, in its capacity as manager of Derayah REIT Fund, announces that it has received a notice from the fund’s legal counsel in the State of Kuwait stating that a court judgment, which remains subject to appeal, has been issued by the Court of First Instance in Kuwait in the case filed by the Fund against Al Amalayah Company for Hotels. The judgment orders Company to pay an amount of SAR 13,759,116 (thirteen million, seven hundred fifty-nine thousand, one hundred sixteen Riyals) to the Fund, representing unpaid rental payments related to the Motoon Tower property in Riyadh. |
| The Impact Caused by the Event | The impact will be reflected according to the outcome of legal and regulatory procedures and the collection of amounts. |
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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