MEFIC REIT changes property managers, reduces audit fees

07/07/2021 Argaam

Logo of MEFIC REIT

MEFIC Capital announced in a bourse filing an update to the terms and conditions of MEFIC REIT Fund, effective July 28.

 

The updates include appointment of Sustainable Property instead of OPM as a new facility and property manager for Souq Sharq and Jeddah buildings, and Edara for Property Management Company instead of D&B for Plaza 1 and Dhiyapha buildings.

 

Also the audit fees decline from SAR 80,000 to SAR 56,500 per annum, the statement added.

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