15
May
15/05/2025

Derayah REIT Fund announces an Addendum Announcement regarding the Announcement Published on January 20, 2025, Concerning the Lawsuit Filed by the Current Tenant of the Smart Tower Property Against Derayah REIT Fund

Element ListExplanation
IntroductionDerayah REIT Fund announces an Addendum Announcement regarding the Announcement Published on January 20, 2025, Concerning the Lawsuit Filed by the Current Tenant of the Smart Tower Property Against Derayah REIT Fund
Date of the Previous Announcement2025-01-20 Corresponding to 1446-07-20
Hyperlink to the Previous AnnouncementClick Here
Change DetailsDerayah Financial Company, in its capacity as the manager of Derayah REIT Fund, announces that it has received a notice from the Fund’s legal counsel, Naif bin Mohammed Al-Salem Law Firm, stating the following: 

 

A final and binding court ruling has been issued in favor of the Fund by the Fifteenth Civil Circuit of the Court of Appeals in the Riyadh region. The ruling upholds the initial judgment No. (4630667999) issued by the First Major Claims Circuit of the General Court in Riyadh, which dismissed the lawsuit filed against the Fund by the primary tenant of the Smart Tower property, Al Thimara Al Haditha for Operation and Maintenance Company (Commercial Registration No. 1010161292). The lawsuit sought to nullify the real estate purchase agreement dated August 7, 2017.

The Impact Caused by the ChangeThere is no impact.