MEFIC Capital announces a material development to MEFIC Real Estate Income Fund

Referring to the announcement published by MEFIC Capital the fund manager of MEFIC Real Estate Income Fund on August 31, 2020 regarding the acquisition of the fund’s owned asset by The Diriyah Gate ‍Development Authority, the fund announces that it has received the financial compensation from the Diriyah Gate Development Authority in exchange for the acquired asset.

The fund manager is currently working on finalizing the audited financial statements of the fund, taking into account this material event and the legal matters with the previous compound owner, and will describe them in the upcoming audited financial statements.

Impact: This event has a positive impact on the liquidity of the Fund and approaching date of fund liquidation