SICO Saudi REIT unitholders approve adjusting fund strategy

24/01/2022 Argaam
Logo of SICO Saudi REIT Fund

Logo of SICO Saudi REIT Fund

Unitholders of SICO Saudi REIT Fund approved, on Jan. 20, adjusting the fund’s strategy to invest a minimum of 75% of the total fund assets value as per the latest financials in income-generating developed real estates in the Kingdom.

 

SICO Capital, the fund manager, said in a bourse filing that this comes instead of investing in Makkah and Madinah with a minimum of 55% and outside of them with a maximum of 45% of the fund’s total assets as per the latest financials.

 

The number of approving voters reached 78.45%, with 15.94 million units out of the total 20.32 million units present at the meeting.

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