– Announcement –

Alkhabeer Capital Addendum Announcement Regarding Material Developments of Alkhabeer REIT Fund

Following the announcement of Alkhabeer Capital, Fund Manager of Alkhabeer REIT Fund, dated 25 July 2021, that is published on the Fund Manager’s website, as well as on the Saudi Exchange website regarding the approval of the Fund’s Board of Directors on 5 Dhu Al-Hijjah 1442 corresponding to 15 July 2021, to increase the total value of the Fund’s assets through the acquisition of three real estate assets (a commercial center in Riyadh, a commercial center in Jeddah, and a residential compound in Al-Khobar) with a total value of SAR 1.53 billion, which Memorandums of Understanding have been signed with the owners by the Fund Manager and what was stated in the announcement regarding the Fund Manager announcing any material developments in this regard.

Accordingly, the Fund Manager announces that the Fund’s Board has approved his recommendation regarding not proceeding with the acquisition process of the commercial center in Riyadh and the commercial center in Jeddah. Therefore, the Fund Manager will disclose any new developments in this regard.

– End –