MEFIC Capital News
| Element | Explanation |
| Introduction | With reference to the announcement made by Middle East Financial Investment Company (MEFIC Capital), in its capacity as the manager of MEFIC REIT Fund, dated 02/02/1447H corresponding to 27/07/2025G, regarding the signing of a preliminary agreement (earnest money contract) for the sale of the “Al-Andalus Building” located in Jeddah (the “Property”), MEFIC Capital would like to announce the completion of the sale transaction and the transfer of ownership from MEFIC REIT to the buyer. |
| Date of the Previous Announcement | 02/02/1447H corresponding to 27/07/2025G |
| Hyperlink to the Previous Announcement | [Click Here] |
| Change Details | Further to the announcement published on 27/07/2025G, MEFIC Capital announces the completion of the sale of the Al-Andalus Building. All legal and regulatory procedures have been successfully finalized, full sale proceeds have been received, and the ownership of the property has been transferred to the buyer.
The total sale proceeds amounting to forty million (40,000,000) Saudi Riyals have been fully utilized to partially repay the Fund’s outstanding financing facilities. |
| The Impact Caused by the Change | The financial impact is expected to be positive. |
| Additional Information | There are no related parties involved in this transaction. |
