Announcement by Al Rajhi Capital regarding the distributions of fund’s dividends to the unitholders of Al Rajhi REIT Fund
Al Rajhi Capital approval of the Fund’s Board of Directors of a non-fundamental change to Al Rajhi REIT fund;
Such change will become effective on 13/09/1446H corresponding to 13/03/2025G.
The details of the non-fundamental change are as follows:
- Appointing Sustainable Property Company to manage both Al Narjes Plaza and Oasis mall properties after the end of the mandatory period of the rental contract for each.
- As for Narjis Plaza, this appointment will entail a property management fee of 8% of the rent collected, except for Tamimi Markets contract, which will be calculated as 5% of the rent collected until the end of the contract.
- As for Oasis Mall, this appointment will entail a property management fee of 7.5% of the rent collected, except for Landmark Markets contract, which will be calculated as 5% of the rent collected until the end of the contract, in addition to 25,000 riyals per month plus 5% from the collected rents of the new tenants as marketing & leasing fee for one year only.
