With reference to the non-binding memorandum of understanding signed on Rajab 16, 1442 H corresponding to February 28, 2021 Gregorian, Musharaka Capital Company, in bits capacity as the fund manager of Musharaka REIT Fund, announced its intention to acquire a new property in Riyadh, KSA. The new property is a brand new, fully furnished, 4-star hotel consists of 94 rooms and hotel suits, GYM, wedding and conference halls, restaurant, swimming pools, and parking space for 80 cars. The acquisition price was decided after obtaining fair-valuation reports from two independent real estate evaluators and after completing the technical and legal due diligence. The property which the fund plans to acquire is leased for 10 years to a leading Saudi company whose business model is hotels operating for an average annual lease of SAR 7.77 million. The tenant submitted promissory notes to guarantee future rental payments.