The Saudi Economic and Development Securities Company (“SEDCO Capital”) Announces an Addendum Announcement Regarding the Occurrence of a Certain Event on the SEDCO Capital REIT Fund
| Element List | Explanation |
|---|---|
| Introduction | Further to the announcement of the Saudi Economic and Development Securities Company (“SEDCO Capital”) published on 06 Dhu Al-Qi’dah 1446H, corresponding to 04 May 2025G, regarding the signing of two non-binding memoranda of understanding to acquire four (4) office complexes (“Properties”) in the city of Riyadh on 03 Dhu Al-Qi’dah 1446H, corresponding to 01 May 2025G |
| Date of the Previous Announcement | 2025-05-04 Corresponding to 1446-11-06 |
| Hyperlink to the Previous Announcement | Click Here |
| Change Details | The Saudi Economic and Development Securities Company (“SEDCO Capital”), in its capacity as the Fund Manager of SEDCO Capital REIT Fund (the “Fund”), announces that the Fund’s Board of Directors has approved the signing of a purchase agreement for one of the properties referred to in the second memorandum of understanding (the “Property”) located in the city of Riyadh, on 30 Rajab 1447H, corresponding to 19 January 2026G, in accordance with the following details:
Property Name: Office Complex Sector: Office City: Riyadh Location: Anas Bin Malik Road, Al Yasmin District Net Leasable Area: 5,267 square meters Acquisition Value: SAR 125,775,000 (excluding any acquisition-related fees). Lease Contract Details: The property is leased under a single-tenant contract to a government entity ("the Tenant") The lease term is estimated at three (3) Gregorian years The annual rental value is SAR 11,180,000, representing a total return of 8.9% per annum. It should be noted that the transaction was financed through facilities granted to the Fund, in addition to proceeds from the sale of one of the Fund’s properties |
| The Impact Caused by the Change | The Fund Manager expects the impact of this event to be generally positive on the Fund’s real estate portfolio, as well as on the Fund’s overall performance and results |
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