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Jadwa REIT Saudi Fund acquired two new properties (office tower and hotel property) located in Riyadh on 13/03/1441H corresponding to 10/11/2019. Details are as follows:

The Office Tower

1- The office tower located along Olaya Street, AlSahafa District, Riyadh Saudi Arabia with land size of 3,300m² and built up area of 14,912m².

2- The property acquired at a total value of (59,000,000) Fifty Nine Million Saudi Riyals, which will be financed through the existing Shariah-compliant credit-line facility obtained from Banque Saudi Fransi.

3- The property is leased to a government entity for (6,000,000) Six Million Saudi Riyals per year with an initial acquisition yield of 10.2%.

4- The property is leased on 15/10/1439H corresponding to 28/06/2018 for 3 years lease term with the renewable option for similar period.

Hotel Property

1- A hotel property located along Anas Ibn Malik Street, AlYasmin District, Riyadh Saudi Arabia with land size of 3,640m² and built up area of 8,597m².

2- The property acquired at a total value of (34,000,000) Thirty Four Million Saudi Riyals, which will be financed through the existing Shariah-compliant credit-line facility obtained from Banque Saudi Fransi.

3- The property consists of:

- Hotel is leased to Boudl trading company leased for (2,200,000) Two Million and Two Hundred Thousand Saudi Riyals per year with rent escalations of 10% every six years.

- 6 retail showrooms with expected lease of (900,000) nine hundred thousand Saudi Riyals per year.

The total expected leases are (3,100,000) Three Million and One Hundred Thousand Saudi Riyals per year with an initial acquisition yield of 9.1%.

4- The remaining years in the hotel lease contract is 15 years.

It is expected that the result of the acquisitions will be positive on the REIT’s financial performance within the fourth quarter of 2019.

Jadwa Investment confirms that there are no related parties in the acquisitions.