Wasatah Capital updates Alwaha REIT Fund’s terms, conditions

11/01/2024 Argaam
Logo ofAlWaha REIT fund

Logo of AlWaha REIT fund

Al Wasatah Al Maliah (Wasatah Capital) updated the terms and conditions of the AlWaha REIT fund, effective Jan. 11, according to a statement to Tadawul.

 

The recent update entailed a profit distribution policy with adjustments to the announcement period for distributions, Wasatah Capital stated.

 

The fund manager is anticipated to declare profits and their due date within 70 business days after the end of June and December of each calendar year. Distribution will occur within 30 business days from the issuance date of the register of unitholders eligible for distribution.

 

Furthermore, the update unveiled details regarding the fund manager's investment in the fund’s units. The fund’s manager, employees, and affiliates have the right to invest in the fund’s units post-listing, in compliance with pertinent regulations.

 

The specific investment percentage will be disclosed in the annual reports, the statement added.

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