MEFIC Capital, the fund manager of MEFIC REIT, announces the termination of the management contract with (Edarah Company) and the appointment of the (Sustainable Assets Company) as the manager and operator of the Plaza 1 property located on King Abdulaziz Road, Alrabia District, Riyadh. The fees for the manager and operator of the new property will be 25,000 riyals, monthly administrative expenses, 4.25% collection commission and 5% “one-time” rental fees, in addition to the owner bearing the operating expenses of labor, maintenance and technicians..
The resulted impact from the occurrence of the event : neutral
