Media

Following the announcement of Jadwa Investment Company published on 04/21/2020 which includes receiving a number of requests from some tenants of Jadwa REIT Saudi Fund to temporarily reduce due rents until the end of precautionary measures that were implemented to contain the spread of the Coronavirus outbreak, Jadwa Investment Company would like to announce the expected financial impact of these precautionary measures on Jadwa REIT Saudi Fund as the Fund manager has successfully addressed most of the rent reduction requests for the year 2020.

Accordingly, the Fund Manager expects that the Fund's projected rents for the year 2020 to decrease by around 4% of the Fund's total annual rental income, which is equivalent to approximately SAR 5 million.

Also, the fund manager is continuously monitoring and assessing opportunities to acquire additional, accretive income-generating properties that will contribute to the fund’s growth plans and reduce the severity of the expected negative impact of this pandemic.

The Fund manager is closely monitoring all developments regarding the pandemic and any major new developments will be announced in due course.