SEDCO Capital REIT to consider tenants’ requests for temporary contractual waivers

SEDCO Capital, the fund manager SEDCO Capital REIT Fund, received requests from multiple tenants seeking temporary reductions in their contractual obligations after the Saudi government took precautionary measures to prevent the spread of coronavirus.

The fund manager said in a bourse filing that it will deal with these requests in a manner that maintains the interests of the unit holders and tenants.

In addition, SEDCO Capital is studying several other initiatives that can help in contributing positively to the fund's operational performance.
 

The fund manager said it distributed 6.1% on an annual basis for the first quarter of 2020 as per with the fund's terms and conditions, indicating it is closely monitoring the current global situation and developments associated with the COVID-19 pandemic.
 

The exact financial implication cannot be determined at present and any developments related to the matter will be disclosed in due course, the statement noted.