AlJazira REIT obtains final ruling ordering tenant to pay SAR 5.2 mln in unpaid rent

Logo of AlJazira Capital

AlJazira REIT Fund received, on Nov. 1, the final judgment deed in its favor for the claim for property rent filed against Takhzeen Logistics Co., fund manager AlJazira Capital said in a statement to Tadawul.

The Court of Appeal in Riyadh ordered Takhzeen Logistics to pay the fund SAR 5.2 million to cover unpaid rent, the statement said.

AlJazira Capital expects a positive impact on the fund’s cash distributions, in the event that the judgment is final.

In September, the General Court in Riyadh issued a preliminary judgment, ordering Takhzeen Logistics to pay the fund SAR 5.2 million to cover unpaid rent, Argaam reported earlier.