Saudi Fransi Capital, the fund manager for Bonyan REIT Fund, announced today that it will partially reopen its shopping malls in Saudi Arabia.

 

The fund manager said in a bourse filing that the move came in response to the directives of the government to partially lift the Kingdom-wide curfew (except in Makkah) to contain the COVID-19 outbreak and allow the resumption of certain economic activities from 9am to 5pm for the period from April 29-May 13, 2020.

 

The malls will operate in accordance with the government’s guidelines on public health and safety practices, the statement noted.

 

The fund manager said it is currently difficult to estimate the financial impact of the move and will disclose any developments in due course.

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