Riyad REIT Fund — Capital/Financing Update 2021

Aug 24, 2021

Announcement by Riyad Capital Regarding the Occurrence of a Specific Event in Riyad REIT (Acquiring an office building worth SAR 184 million in Riyadh)

4330 · 24/08/2021 08:08:07 · Announcement #64711 · View on Saudi Exchange

Announcement by Riyad Capital Regarding the Occurrence of a Specific Event in Riyad REIT (Acquiring an office building worth SAR 184 million in Riyadh)

4330

RIYAD REIT

-2.71 %

1443/01/16     24/08/2021 08:08:07

Element List	Explanation
Description of the Event	Riyad Capital announces the completion of a property acquisition in Riyadh by RIYAD REIT (“Fund Manager”) on 23/08/2021. Details are as follows:

- Office property is located in Al Raed district on King Abdullah Road in Riyadh with built-up area of 26,520 square meters.

- The Property has a core location situated on King Abdullah Road, opposite to King Saud University and next to King Abdulaziz City for Science and Technology. The property is also within walking distance from Prince Turki Ibn Abdulaziz Al Awwal Metro Station.

- The property was acquired at SAR 184,437,500, reflecting an initial acquisition yield of 8%.

- The property was financed through Shariah-complaint bank debt.

- The property is newly developed and is fully leased as a NNN lease for 3 years to a government related entity, which is an extendable lease.

- The Property was purchased without related parties, and without any conditions.

This acquisition is a continuation of the Fund Manager’s strategy to continue expanding and diversifying the REIT’s real estate portfolio – both locally and internationally – through the acquisition of high-quality properties located in strategic locations and leased to credit-worthy tenants. The Impact Caused by the Event The financial impact of this transaction is expected to be generally positive on the fund's results, by the end of the second half of this year.

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.