Alinmaa Investment Company establishes an investment fund to acquire real estate facilities in Makkah

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Alinmaa Investment Company intends to establish an income-generating real estate investment fund in accordance with the Capital Market Law and its executive regulations for the sale and leaseback of real estate assets. The fund, which will be in cooperation with Jabal Omar Company, will acquire some operational assets located within the first phase of the company's project in Makkah, which includes five hotels and four commercial centers.

Pursuant to this agreement, Alinmaa Investment Company will conduct due diligence for the purchase of assets, obtain the necessary approvals from the Capital Market Authority and complete the purchase contracts.

Pursuant to this agreement, Enma Investment Company will conduct due diligence for the purchase of the assets, obtain the necessary approvals from the Capital Market Authority and finalize the purchase and leasing contracts in preparation for the completion of the purchase of the assets, provided that Enma Investment Company will lease the assets back to Jabal Omar, and Jabal Omar will retain the right to buy back the assets during the life of the fund, which is set at ten years.

According to this agreement, Enma Investment Company will conduct due diligence for the purchase of the assets and obtain the necessary approvals from the Capital Market Authority.

The financial impact of this sale is expected to appear during the second fiscal quarter of 1438H after the fund is established and the acquisition of the assets by Alinmaa Investment Company is completed.

The financial impact of this sale is expected to appear during the second fiscal quarter of 1438H.