Announcements
Jadwa Investment Announces a Material Development for Jadwa REIT Haramain Fund
Mon, 30 March 2020
Description of the event:
In line with the precautionary measures issued by the competent authorities to prevent coronavirus infection (COVID-19) represented by temporarily suspending Umrah and visiting visas as well as temporarily suspending Umrah for citizens and residents in the Kingdom, in addition to suspending international and domestic flights, Jadwa Investment announces that it has received a notice from the tenants of Tharawat Al Taqwa Hotel and the Pharmacy Building - Jadwa REIT Al Haramain Fund properties - to temporarily suspend the lease contracts for these two properties until the suspension is lifted by the authorities.
The Impact Caused by the Event:
The effect of the event is expected to be negative, and in the absence of a specific period of these precautionary measures, it is not possible to determine the exact impact on the fund. The fund manager will closely monitor the situation and announce any future material developments.