19 September
19/09/2024
Derayah Financial Announces the Occurrence of Specific Event to Derayah REIT Fund regarding the initiation of legal proceedings against the master tenant of Smart Tower
| Element List | Explanation |
|---|---|
| Introduction | Derayah Financial (“Fund Manager”) Announces an Event Relating to Derayah REIT (“The Fund”) regarding the initiation of legal proceedings |
| Description of the Event | Derayah Financial the fund manager of Derayah REIT (“The Fund”), announces the initiation of legal proceedings against the master tenant of Smart Tower to recover the overdue rent amounting to (SR 40,000,000). |
| The Impact Caused by the Event | The impact will be reflected according to the outcome of the legal and regulatory procedures. |