Jadwa Investment announces structural damage to Jadwa REIT asset

Jadwa Investment Co. announced the occurrence of an accident in one of Jadwa Saudi REIT Fund's assets on Dec. 17, the fund manager said in a bourse statement on Wednesday.

The southern outer wall and the roof of the external parking of Al Maarefa University building suffered structural damage, the statement further explained, adding that the Civil Defence personnel have promptly arrived to the location.

The fund maintains a property all-risk insurance that covers property damages, the statement also said.

The fund manager noted it does not expect the incident to have a material financial impact on the fund’s performance.