Alkhabeer REIT receives several rent revision requests on COVID-19 measures

Alkhabeer Capital, the fund manager of Alkhabeer REIT, received several requests from real estate tenants to either reduce, reschedule or suspend due rents during the COVID-19 precautionary measures period.

The fund manager said in a bourse statement that the 24-hour curfew directive in the Kingdom, in addition to some other related decisions, have significantly impacted its commercial properties.

It further expects the business to be negatively affected by the continued economic fluctuations in global and local markets.

It is presently difficult to determine the full impact on the fund’s performance, as there is still uncertainty over the timeframe for COVID-19 precautionary measures, Alkhabeer Cap noted, adding that it is currently studying tenants’ requests before making a decision in accordance with the Kingdom’s laws and regulations.

The fund manager emphasized the protection of investors’ rights, noting that any further developments will be revealed in due course.