Announcement Detail:
Mulkia Investment Company –The fund manager for Mulkia Gulf Real Estate REIT Fund -announces that based on the previous approval of the Fund’s Board of Directors and the conversion of Mulkia Gulf Real Estate REIT fund to be a special purpose entity (SPE), a non-fundamental change has been made to Mulkia Gulf Real Estate REIT fund,
Such change will be effective on 30/07/1443 H corresponding to 03/03/2022 G.
The details of the non-fundamental change are as follows:
Updating the clauses related to zakat calculation for the fund to complete the process of registering the fund at the General Authority of Zakat and income for Zakat purposes as below:
– Registering the fund for zakat purposes with the General Authority for Zakat and Tax, starting from the year 2019.
– The fund manager acknowledges that it is not possible to cancel the registration and stop supplying zakat to the General Authority for Zakat and Income until the expiry of the fund’s term, unless changes are made to the mechanism of registration related to the investment funds for zakat purposes from the regulatory authorities.