AlRajhi Capital announces the occurrence of a material development related to AlRajhi REIT Fund
|Description of the Event||AlRajhi Capital, the fund manager of AlRajhi REIT, received several requests from real estate tenants to either reduce, reschedule or suspend due rents during the COVID-19 precautionary measures period. The 24-hour curfew directive in the Kingdom, in addition to some other related decisions, have impacted the business of its tenants in retail and commercial properties.|
|The Impact Caused by the Event||Fund Manager expects the business to be negatively affected by the continued economic fluctuations in global and local markets. It is presently difficult to determine the full impact on the fund’s performance, as there is still uncertainty over the timeframe for COVID-19 precautionary measures, |
Fund Manager is currently studying the situation and considering various options to protect the interest of unitholders in accordance with the Kingdom’s related laws and regulations.
The Fund Manager will continue to follow up on the developments and will announce any material developments in due course of time.
The Capital Market Authority and the Saudi Stock 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.