Al Rajhi Capital announces updating the terms and conditions of the Al Rajhi REIT Fund
Al Rajhi Capital announces updating the terms and conditions of the Al-Rajhi REIT Fund, as of 23/06/1443H corresponding to 26/01/2022G. Below are the updated items:
- Releasing the lock on units owned by Al Khaleej Training and Education Company (The master tenant of Baraem Rowad Al Khaleej Intl Kindergarten, Riyadh, Rowad Al Khaleej International Schools in Riyadh, Rowad Al Khaleej International Schools in Dammam) amounting 26,404,494 units, as the lockup period stated in the Terms and Conditions is (3) years beginning from 06/01/2020G. in return of submitting promissory notes as a guarantee to pay the rent for the entire remaining period of the lease contract, the lease term is 15 years starting from December 24th, 2019G.
- Appointment of Medad Alkhaer Real Estate to conduct the handover works from previous lessee “Alfouzan” and act as property and facility management for Anwar plaza and Rama plaza.