Al Rajhi Reit unitholders approve increasing total fund assets through issuance of additional units to complete acquisition of 2 properties

Al Rajhi Capital announced the results of the Al RAJHI REIT Fund unitholders’ meeting (second meeting), which was Thursday and included:

1. The approval to increase the total assets of the Fund & the supplementary Appendix to the terms & conditions, through the issuance of additional units (cash), provided that the increase in the Fund capital is between (SAR 330,000,000) at the minimum and (SAR 1,012,380,710) at the maximum. This is to complete the acquisition of the 2 Assets:

• Riyadh Avenue – Riyadh

• Al-Henaki Business Center – Jeddah

2. The approval to increase the limit cap of the remuneration of each independent board member from SAR 20,000 to SAR 50,000 per year. And to keep the compensation per meeting as is with an amount of SAR 5,000.