Announcements
Jadwa Investment Announces a Material Development to Jadwa REIT Saudi Fund
Tue, 24 December 2019
Description of the Event:
Jadwa Investment Company announces an occurrence of an unfortunate incident to one of Jadwa Saudi REIT Fund's assets “Al Maarefa University building” on Tuesday 20/4/1441 AH corresponding to 17/12/2019G, where the southern outer wall and the roof of the external parking suffered structural damage. The Civil Defense force and other relevant authorities have promptly arrived at the scene to provide the necessary assistance. The Fund Manager is coordinating with the concerned authorities on all developments resulting from this unfortunate incident.
The Impact Caused by the Event:
The Fund Manager does not expect this incident to have a material financial impact on the Fund performance.
Additional Information:
The Fund maintains a property all-risk insurance covering property damages and loss of rent.