Jadwa REIT Saudi Fund announces an Addendum Announcement regarding occurrence of a specific event

Jadwa REIT Saudi Fund announces an Addendum Announcement regarding occurrence of a specific event

18 February 2024 03:43 PM

Element List

Explanation

Introduction

Following the announcement of Jadwa Investment Company published on 12/10/1444H corresponding to 02/05/2023G regarding the signing of an addendum to Sale and Purchase Agreement for a leased land located in Jeddah on Prince Sultan bin Abdulaziz Road in Al Zahra district with a total size of (161,276) sqm. (the “Agreement”) on 11/10/1444H corresponding to 01/05/2023G, which includes decreasing the acquisition price from 500 million Saudi riyals to 400 million Saudi riyals (excluding RETT and acquisition fees).

Date of the Previous Announcement

2023-05-02 Corresponding to 1444-10-12

Hyperlink to the Previous Announcement

Click Here

Change Details

Jadwa Investment Company would like announce the completion of the sale process and transferring the title deed of the property to the Fund on 08/08/1445H corresponding to 18/02/2024G

The Impact Caused by the Change

It is expected that the result of this transaction will be positive on the Fund’s financial performance in the second quarter of 2024 in the event that this transaction is completed.

Additional Information

The Fund Manager will disclose any developments in this regard.

Jadwa REIT Saudi Fund announces an