Derayah REIT: Court orders former Motoon Tower tenant to pay SAR 13.8M

25/05/2025 Argaam
Logo ofDerayah Financial Co.

Logo of Derayah Financial Co.

Derayah Financial Co. manager of the Derayah REIT Fund, said it received a notice from the fund’s legal counsel in Kuwait regarding a court ruling.

 

For more news and details on the projects

 

The Court of First Instance in Kuwait issued a judgment, which remains subject to appeal, in the case filed by the fund against Al Amalayah Co. for Hotels, the former tenant of Motoon Tower in Riyadh.

 

The court ordered Al Amalayah to pay SAR 13.76 million to the fund, representing unpaid rent related to the Motoon Tower property.

 

The impact will be reflected according to the outcome of legal and regulatory procedures and the collection of the amounts, the company said in a statement to Tadawul.

Comments {{getCommentCount()}}

Be the first to comment

{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
{{comment.Replies.length}}
تعديل
loader Train
Report
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.