OSOOL & BAKHEET INVESTMENT COMPANY Announces the Occurrence of Specific Event to AL Maather REIT Fund

Thursday, January 27, 2022 at 5:30 PM

Description of the Event


Osool & Bakheet Investment Company, The Manager of Al-Maather REIT Fund announces the completion process of mortgaging the title deeds of three real estate properties, as follow 1. Al Salam Schools in Riyadh, 2. Al Nokhbah Schools in the city of Unayzah, 3. Towlan Hotel Suites in the city of Khobar.

This mortgage is a collateral to guarantee for shariah-compliant facility which will be  provided by AlRajhi Bank, in favour of  the fund.


The Impact Caused by the Event


The impact of this event will reflect positively on the fund's unit holders and it will be used to finance acquisition plans to diversify the assets and add net positive returns based  on the differences between financing costs and rental income.

Osool & Bakheet Investment Company confirms that there are no related parties in the transaction mentioned above.