MEFIC Capital says property lessees request fees delay, cut amid COVID-19 outbreak

13/04/2020 Argaam

 

Middle East Financial Investment Co. (MEFIC Capital), the fund manager of MEFIC REIT Fund, said it received requests from properties lessees on halting, cutting, rescheduling the leasing fees, or even terminating some contracts, in the light of the Kingdom's precautionary measures to combat COVID-19.

 

"The fund's operations are expected to be temporarily impacted; however, the relevant financial impact cannot be determined at present," MEFIC Capital said in a bourse statement.

 

The fund manager is studying the available options that might mitigate the negative impact of the coronavirus outbreak on the unit owners.

 

The related updates will be revealed in due course, the statement added.

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