MEFIC Capital Announces a Material Development to MEFIC REIT Fund

Element List	Explanation
Description of the Event	The Middle East Financial Investment Company (MEFIC Capital) announces a fundamental development on (MEFIC REIT Fund) regarding the issuance of licenses from the Ministry of Hajj and Umrah, enabling the provision of accommodation services for pilgrims at the Drnef Ajyad hotel and Drnef Kudai hotel in Mecca.
The Impact Caused by the Event	The Middle East Financial Investment Company “MEFIC Capital” the fund manager of MEFIC REIT Fund announces the issuance of licenses for the Drnef Ajyad hotel and Drnef Kudai hotel in Mecca for the Hajj accommodation for the year 1445 H, The hotels have a total capacity of 310 hotel rooms accommodating a total of 1,318 pilgrims, in accordance with operator standards. This enables the hotels to benefit from the Hajj season returns and their positive impact on fund inflows and future cash dividends.

Element List

Explanation

Description of the Event

The Middle East Financial Investment Company (MEFIC Capital) announces a fundamental development on (MEFIC REIT Fund) regarding the issuance of licenses from the Ministry of Hajj and Umrah, enabling the provision of accommodation services for pilgrims at the Drnef Ajyad hotel and Drnef Kudai hotel in Mecca.

The Impact Caused by the Event

The Middle East Financial Investment Company “MEFIC Capital” the fund manager of MEFIC REIT Fund announces the issuance of licenses for the Drnef Ajyad hotel and Drnef Kudai hotel in Mecca for the Hajj accommodation for the year 1445 H, The hotels have a total capacity of 310 hotel rooms accommodating a total of 1,318 pilgrims, in accordance with operator standards. This enables the hotels to benefit from the Hajj season returns and their positive impact on fund inflows and future cash dividends.

MEFIC Capital News

MEFIC Capital News

MEFIC Capital Announces a Material Development to MEFIC REIT Fund

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