MEFIC Capital News | Element List | Explanation |
| Announcement Detail | MEFIC Capital, the fund manager of MEFIC REIT, announces that in the framework of cost control and reduction, it had started negotiations with many property and facility mangers and received some proposals to appoint property and facility manager for Plaza 1 building and Dhiyafa building. In view of that, the fund’s board of directors decided to appoint “Edara” company to be the property and facility manager of both Plaza 1 Building and Dhiyafa Building.
The Impact Caused by the Event The effect is positive for plaza 1 building as the collections fee will decline from 8% to 3.5%. Moreover, the monthly facility services fees will decline from around SAR 150,000 to SAR100,000. As for Dhiyaphah building, its collections fees will amount to 3.5% and facility services fees of SAR 80,000 per month. |
