REIT-Announcement

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.