NCB Capital announces the approval of the Board of Directors of AlAhli REIT Fund (1) to appoint “Al-Andalus Property Company” as the operator of Al-Andalus Mall, where the current operator “Hamat Property Company” will be replaced by the new operator.

And since Al-Andalus Property Company (the new operator) owns more than 5% of the fund’s units, in addition to being the real estate agent of the fund, it is considered a related party. It is not expected that there will be any additional financial impact on the fund.