MEFIC REIT Signs Management and Operation Agreement for Commercial Complex in Riyadh
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The board of directors of MEFIC REIT Fund, managed by Middle East Financial Investment Company (MEFIC Capital), has given the green light for a non-fundamental modification to the fund.
MEFIC REIT is a real estate investment trust listed on the Saudi stock exchange, focusing on income-generating properties.
Specifically, the fund has entered into a management and operation agreement with Dur Al osool Company to oversee the Dhiyafa and Souq Sharq properties in Riyadh.
The agreement is set for an initial term of one year, with a provision for renewal.
This move aligns with MEFIC's strategy to enhance asset management and operational efficiency. The properties involved are key commercial assets in Riyadh, contributing to the fund's portfolio diversification. Investors will watch for potential performance improvements from the new management arrangement.
Original source: Maaal
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