SICO Saudi REIT unitholders to vote on modifying investment strategy on Jan. 6

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SICO Saudi REIT Fund unitholders will vote on modifying the fund’s investment strategy on Jan. 6, 2022 through Tadawulaty services, SICO Capital, the fund manager, said in a statement to Tadawul.

The unitholders will vote on adjusting the fund strategy to invest a minimum of 75% of total asset value, based on the latest financials in income generating developed real estates, in Saudi Arabia instead of investing a minimum 55% of assets in Makkah and Madinah and investing a minimum 45% of assets outside Makkah and Madinah.

Under the current strategy, the fund aims to invest a minimum 55% of assets in Makkah and Madinah and investing minimum 45% of assets outside Makkah and Madinah.

According to the new strategy aims, SICO Saudi REIT aims to invest a minimum 75% of total asset value in Saudi Arabia.

E-voting will start on Jan. 2.