Riyad REIT Fund — Capital/Financing Update 2018

Mar 11, 2018

Riyad Capital announces the availability of the terms and conditions of Riyad REIT for unitholders to vote on the capital increase

4330 · 11/03/2018 08:00:32 · Announcement #49661 · View on Saudi Exchange

Riyad Capital announces the availability of the terms and conditions of Riyad REIT for unitholders to vote on the capital increase

4330

RIYAD REIT

-2.71 %

1439/06/23     11/03/2018 08:00:32

Riyad Capital announces the availability of the terms and conditions of Riyad REIT for unitholders to vote on the capital increase

Riyad Capital has resolved to increase the Funds capital from SAR 500 million to SAR 1.633 billion in order to continue its growth strategy of acquiring high quality assets, expand the Funds sources of cash flows, and diversify the tenancy base.

The objective of the capital increase is as follows:

1- Expansion into the education sector through the acquisition of the Saudi Electronic University building located in Ar Rabi district at the intersection of Abi Bakr As Siddiq Road and Prince Saud Bin Mohammed Bin Muqrin Road in the north of Riyadh.

2- Continue expansion into Jeddah Saudi Arabias second largest city through the acquisition of Omnia Center, located in Rawdah district in Jeddah. Omnia Center is a mixed-use property that includes offices, retail, and residential apartment uses.

3- Acquisition of Kempinski Riyadh Hotel The Property includes a five-star hotel, ballroom, business center, spa, six restaurants, and retail outlets. The retail component is predominantly leased by STC Academy.

4- Partial repayment of murabaha facilities that was extended to the Fund.

The terms and conditions of the capital increase can be found through the following link: http://www.riyadcapital.com/en/asset-management/public-funds/reits/

The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.