Mulkia investment Company announces the results of the Unitholder’s meeting for Mulkia Gulf real estate REIT Fund held on Sunday 06/08/1444H corresponding to 26/02/2023G through which the Unitholders approved the following:
1. Approval to increase the total assets of the Fund through the issuance of additional units (in kind and cash), provided that the increase in the Fund capital is between (250,000,000) Saudi Riyals at the maximum, and (114,858,848) Saudi Riyals at the minimum. This is to complete the acquisition of Aljada Commercial Hotel Complex, and for the Partial repayment of the outstanding financing amount.
2. Approval of the supplementary annex to the terms and conditions of the fund, which was prepared mainly to reflect the increase in the total value of the fund’s assets.
3. Approval to increase the maximum budget limit for the auditor account to 60,000 riyals annually.