Osool and Bakheet Investment Co., fund manager of Al-Maather REIT Fund, agreed with Al-Roqi National Schools Company to extend the memorandum of understanding (MoU) until Oct. 31, 2020.
The company added in a bourse filing on Wednesday that the MoU’s validity was extended to allow additional time to receive necessary permits and licenses, with all terms and conditions remaining unchanged.
There are no related parties or financial impact arising from the extension of the MoU, the statement said, noting any other substantial developments will be disclosed in due course.
In December 2019, Al-Maather REIT Fund signed a MoU with Al-Roqi National Schools Co. to develop and build Al Roqi National School in south Riyadh at Zahra district.
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