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Mulkia Investment Announces a fundamental change on Mulkia Gulf Real Estate REIT.

Description of the Event:
Mulkia Investment Company as the fund manager, would like to follow its previous announcements regarding Corona virus cautious measurements applied and their impact on the fund performance to keep the unitholders updated. In this regard, Mulkia Investment Company has received some requests from some tenants either to stop calculating the rent or to apply a discount on the rent in addition to approving a grace period till the curfew ends and business back to normal. These requests to date represent a percentage of 30.24% of total fund rents for the year 2020.
The fund manager is currently studying these requests to make the proper decision to the unitholders’ interest to the extent allowed by the regulations applied in the Kingdom of Saudi Arabia, and judicial and legal principles relevant to such circumstances.
The Impact Caused by the Event :
Reference to the above we expects a negative impact on both fund income and dividends distributions depending on the negotiation with tenant and depending on the period of curfew and its effect on the fund operations.
The fund manager will also announce any future fundamental updates.