OSOOL & BAKHEET INVESTMENT COMPANY announces occurrence of a specific event to AL Maather REIT Fund

Monday, August 09, 2021 at 4:35 PM

Description of the Event

Osool & Bakheet investment company wants to clarify the status of Al-Rabie leasehold contract, which is located in Al-Rabie neighborhood on King Abdulaziz road in Riyadh City according to the coordinates (24°47'16.9"N 46°39'31.9"E). This leasehold contract ends within three months, on 30/03/1443H Corresponding to 05/11/2021G. The net income of the expiring contract after lease expenses is SAR471,760, which account a percentage of 0.9% from the gross fund rent income.

The Impact Caused by the Event 

Non significant decrease in the total rent value of the fund by less
than 1%, equaling to SAR 471,760.