| Element List | Explanation |
|---|---|
| Introduction | Announcement by Middle East Financial Investment Company (MEFIC Capital) regarding a material event for MEFIC REIT. |
| Description of the Event | MEFIC Capital, in its capacity as Fund Manager, wishes to announce that the Fund’s Board of Directors, in its meeting held on 10/01/1448H corresponding to 25/06/2026G, approved the decision not to renew the usufruct contract for the Plaza 1 property beyond its original term, which expires in July 2026G, on the grounds that proceeding with the two additional extension years is not deemed commercially viable. |
| The Impact Caused by the Event | Non-renewal upon expiry of the original term is in the best interest of the Fund. |
Middle East Financial Investment Company (MEFIC Capital) Announces the Occurrence of Specific Event to MEFIC REIT Fund
AI Summary
- MEFIC REIT’s Board of Directors approved the decision not to renew the usufruct contract for the Plaza 1 property beyond its original term.
- The contract is set to expire in July 2026G.
- The Fund Manager determined that exercising the option for two additional extension years was not commercially viable.
- The non-renewal is intended to serve the best interests of the Fund.
