Musharaka Financial Company’s announcement of the occurrence of a specific event on the Musharaka REIT Fund

Event Description:

Musharaka Capital, as the fund manager of Musharaka REIT, announces that due to the continuous increase in SAIBOR costs resulting from rising interest rates, and in an effort to mitigate the negative impact on the fund, the fund manager has approved a 50% reduction in management fees for newly acquired properties through the fund’s available bank facilities. This reduction will be in effect until December 31, 2023.

Impact of the Event:

The impact of this decision is expected to be positive when acquiring new properties, as it will reduce the fund’s overall costs and improve its financial efficiency.