SICO Agree to Amend Fund Strategy by Investing 75% of Assets inside Kingdom

SICO Capital Company announced on Monday the results of SICO Saudi REIT Fund unitholders meeting that has been held 20 January 2022 through Tadawulaty web services, according to the following details:

It indicated the meeting result is Agreeing on adjusting the fund strategy to invest minimum 75% of the total fund assets value as the latest financials in income generating developed real estates in The Kingdom of Saudi Arabia, instead of invest in the Holy Makkah & Almadina cities with minimum of 55% and outside Makkah & Almadina with maximum of 45% of the fund total assets as the latest financials.

The company said in a statement on Tadawul on Monday that the number of approving voters reached (78.45%) with a total number of units (15,939,150) units out of the total units present at the meeting (20,317,029) units.