Riyadh — Mubasher: Middle East Financial Investment Company (MEFIC Capital), the manager of MEFIC REIT Fund, announced the signing of supplemental agreements to modify the terms of two major real estate acquisitions, according to a bourse filing.
The fund has extended the final dates for the purchase of assets in Jeddah and Makkah to 30 November 2026.
The original sale and purchase agreements for both the Jeddah and Makkah properties were signed on 13 March 2026.
Meanwhile, this extension follows a previous update on 13 September 2026 regarding the Makkah property and the fund board's approval to increase the total value of the fund's assets.
Separately, MEFIC Capital confirmed that a memorandum of understanding regarding the potential acquisition of usufruct rights for a property in Jazan will not be renewed.
The memorandum expired on 22 October 2026 after the parties failed to reach a final agreement.
The fund manager expects the completion of the Jeddah and Makkah transactions to have a positive impact on the fund.
Furthermore, the planned increase in total asset value remains subject to approvals from the Capital Market Authority (CMA), the Saudi Exchange (Tadawul), and unitholders.
