Al Rajhi REIT appoints Sustainable Property to manage Al Anwar Plaza, Rama Plaza

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AlRajhi Capital announced that Al Rajhi REIT board of directors approved a non-fundamental change, according to a statement to Tadawul.

 

Al Rajhi REIT appointed Sustainable Property Co. instead of Madad Al Khair Real Estate Office to manage both Al Anwar Plaza and Rama Plaza properties. These changes will be effective as of March 17, 2024, the statement added.

 

This change will result in reducing property management fees from 8% to 7.5% of the collected rent.

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