NCB Capital Company Announces a Material Development to AlAhli REIT Fund (1) which is the temporary closure of Al-Andalus Mall
NCB Capital Company (“Fund Manager”) announces that AlAndalus Mall (one of the assets of AlAhli REIT Fund (1) will be temporarily closed based on the instruction of the Municipality of Jeddah Governorate as a precautionary measure to limit the spread of the new Coronavirus (Covid-19). It should be noted that the hypermarket and pharmacies within AlAndalus Mall will continue to operate as they are excluded from the closure by the Municipality. The Fund Manager will follow material developments and announce significant developments in due course. In the absence of a confirmed duration for the temporary closure, the financial impact on the Fund cannot be determined.