NCB Capital Company (“Fund Manager”) announces the approval by the Board of Directors of Al-Ahli REIT Fund (1) to commence a study to see the feasibility of expanding AlAndalus Mall by adding an external space for food and beverage in addition to a parking building to further enhance the services offered by the mall.

It should be noted that no material financial impact is expected on the Fund from the study. The Fund will announce later all further developments in this regard.