MUSCAT CAPITAL COMPANY ANNOUNCES A MATERIAL DEVELOPMENT TO AL MASHAAR REIT

SICO Capital Company, the Fund Manager for Al-Mashaar REIT Fund, announces that it has received a notification on February 22, 2021 AD from the tenant of Al-Mashaar Fund REIT (Eskan For Development & Invest Co) requesting to re-evaluate the rent due for the current period by appointing an independent expert to evaluate the rent due to current exceptional circumstances that have occurred due to the Covid -19 virus and the resulting pandemic.The fund manager is currently internally evaluating this request in relation to the leased properties concerned. The fund manager is currently unable to determine the impact accurately and will follow up on events and announce any future substantial developments