Date of the Previous Announcement:  22/05/2025

URL of the Previous Announcement: Link

Change Details  :

Further to Mulkia Investment Company announcement regarding the occurrence of a specific event that has been published in 24/11/1446 H corresponding to 22/05/2025 G, Mulkia Investment Company would like to announce finalizing the Process of ownership transfer for the “Commercial land”.

The Impact Caused by the Change: 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.

Additional Information :

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.