13 Nov, 2022
Description of the Event:
Musharaka Capital, the Fund Manager of Musharaka REIT, announces that in order to mitigate the negative impact on the Fund of the continuous rise in SAIBOR due to increasing of interest rates, the Fund has obtained the approval of the Fund Manager to reduce the management fees by 50% on the new properties that might be acquired through the bank facilities available to the Fund. Note that this reduction will be effective till December 31, 2023.
The Impact Caused by the Event:
The impact of this event will be positive when acquiring any new properties, given that it will reduce the total costs of the Fund.