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Addendum announcement from Mulkia Investment Company related to a specific event in Mulkia Gulf Real Estate REIT fund
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MULKIA REIT
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1447/01/27 22/07/2025 09:15:06
| Element List | Explanation |
|---|---|
| Date of the Previous Announcement | 2025-05-22 Corresponding to 1446-11-24 |
| Hyperlink to the Previous Announcement | Click Here |
| Change Details | Further to Mulkia Investment Company announcement regarding the occurrence of a specific event that has been published in 24/11/1446 H corresponding to 22/05/2025 G, Mulkia Investment Company would like to announce finalizing the Process of ownership transfer for the "Commercial land". |
| The Impact Caused by the Change | The fund manager expects that the impact of the acquisition on the fund will be positive through increased diversification in real estate activities and their geographical distribution. It is also expected that the acquisition will have a positive anticipated effect on the fund's returns after the planned projects on the real estate asset associated with the deal are completed, It is worth noting that the acquired property is located adjacent to the property currently owned by the fund, namely 'West Avenue Mall'. The plan is to utilize the acquired property to expand and diversify the activities of West Avenue Mall, thereby enhancing its position as one of the preferred shopping destinations in the Dammam city. |
| Additional Information | Related Party: The transaction involved the presence of a related party, as Gulf Real Estate Company (seller) is considered a related party due to the percentage of ownership exceeding 5% of the Fund’s units, it is worth noting that there are no preferential terms. |
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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