02 Jan 2022

Saudi Economic and Development Securities Company (SEDCO Capital) Announces an Addendum Announcement Regarding a Specific Event Occurring on the SEDCO Capital REIT Fund

An addendum announcement for the Saudi Economic and Development Securities Company (SEDCO Capital) published on (11/07/1442H), corresponding to (23/02/2021G). The Fund Manager wishes to clarify that a 5-year lease agreement has been signed with a local operator for Burj Al-Hayat property in Riyadh, starting from 01/01/2022G.

 

The annual rental value for the first three years should be SAR 1,500,000, and it will rise by 6.7% to reach SAR1,600,000 in the fourth and fifth years.

 

The Fund Manager expects a positive impact on the Fund's performance and distributions.

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SEDCO Capital