| Element List | Explanation |
|---|---|
| Introduction | Riyad Capital (the “Fund Manager”), in its capacity as Fund Manager of Riyad REIT (the "Fund"), announces the successful completion of the sale of a property held by one of the Fund's international investments “Riyad International Real Estate (IV)” (the "Property"). |
| Description of the Event | Located in the city of Plano, Texas, United States of America, the Property is a Class A office building fully leased to FedEx — one of the world's largest express courier and logistics companies. |
Riyad REIT invested SAR 45 Mn in the Property during 2020. Net sale proceeds attributable to the Fund amounts to SAR 54 million.
In addition to the aforementioned sale proceeds, the Fund received cumulative distributions from the Property throughout the holding period of approximately SAR 13 million, representing 29% of the original investment cost.
Total proceeds from the investment accordingly reached SAR 67 million, generating a total Return on Investment (ROI) of 48% to the Fund.
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.