Swicorp Wabel REIT temporary closes shopping centers except pharmacies, supermarkets

Swicorp, the fund manager of Swicorp Wabel REIT, announced on Tuesday the temporary closure of its shopping centers across Saudi Arabia.

Nevertheless, pharmacies and supermarkets inside the shopping centers will remain open in accordance with the directive of the Ministry of Municipal and Rural Affairs.

The shopping centers include Al Makan Mall Hafr Al Bateen, Al Makan Mall Riyadh, Al Makan Mall Tabuk, and Al Makan Mall Dawadmi, the fund manager said in a bourse statement.

The move came in response to the Saudi government’s directive to safeguard its citizens and residents, and to contain the spread of coronavirus across the Kingdom.

The fund manager further noted that it cannot determine the financial impact of the closure at present, noting that it will disclose any further developments in due course.