Riyad REIT Fund — Capital/Financing Update 2021

Sep 30, 2021

Announcement by Riyad Capital Regarding the Occurrence of a Specific Event in Riyad REIT (Investing SAR 24 million in a headquarters office building Brussels, Belgium)

4330 · 30/09/2021 15:33:54 · Announcement #65015 · View on Saudi Exchange

Announcement by Riyad Capital Regarding the Occurrence of a Specific Event in Riyad REIT (Investing SAR 24 million in a headquarters office building Brussels, Belgium)

4330

RIYAD REIT

-2.71 %

1443/02/23     30/09/2021 15:33:54

Element List	Explanation
Description of the Event	Riyad Capital announces that Riyad REIT has invested SAR 24 million in a Belgian office building on land area of 10,186 square meters (plus approximately 755 parking spaces) and net leasable area of 35,536 square meters located in Brussels (the Capital of the European Union), Belgium.

The Property is the PricewaterhouseCoopers (PwC) Headquarters in Belgium, a Class A office building. PwC, is the second largest professional services company and is considered one of the Big Four accounting firms. PwC operates in more than 150 countries and generated over $40 billion in revenues globally in 2020. Western Europe accounted for 32% (over 90,000 people) of PwC’s workforce – representing the largest allocation of employees for the company.

The Property is situated within Airport District – a hub for international companies that is characterized by the strong presence of international corporates, excellent mobility, and low property taxes. The District is home to 317 companies, together directly and indirectly generating employment for 64,000 people. The immediate area also includes major companies such as EY, CISCO, UPS, Microsoft, ExxonMobil, Samsung, Sony, Deloitte, Toyota and other large corporations.

The investment is funded from the Shariah-compliant facilities available to Riyad REIT. The Impact Caused by the Event The investment is expected to generate an average annual yield of 8% to Riyad REIT over a 5-year investment period.

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.