Mulkia Investment Company, as a Fund Manager & Operator of Mulkia Gulf Real Estate REIT Fund “the Fund”, announces signing an acquisition agreement to acquire a new property for the benefit of Mulkia Gulf Real Estate REIT fund “Commercial land” located in Al Faisaliah neighborhood, Dammam city as per the following details:

Property information: A commercial land located in the Al- Faisaliah neighborhood of Dammam city on Omar Ibn Al-Khattab Road, with an area of 11,138.11 square meters.

The acquisition value of the land is 33,414,330 SAR- excluding VAT and brokerage fees.

Effect of the fundamental event:

The fund manager expects that the impact of the acquisition on the fund will be positive through increased diversification in real estate activities and their geographical distribution. It is also expected that the acquisition will have a positive anticipated effect on the fund’s returns after the planned projects on the real estate asset associated with the deal are completed, It is worth noting that the acquired property is located adjacent to the property currently owned by the fund, namely ‘West Avenue Mall’. The plan is to utilize the acquired property to expand and diversify the activities of West Avenue Mall, thereby enhancing its position as one of the preferred shopping destinations in the Dammam city.

Related Party: The transaction involved the presence of a related party, as Gulf Real Estate Company (seller) is considered a related party due to the percentage of ownership exceeding 5% of the Fund’s units, It is worth noting that there are no preferential terms.