Beginning of liquidation procedures for the “Business Park” Fund

Retal Urban Development Company received a notice from the manager of the Business Park Fund (Bloom Investment Saudi Arabia) stating that the procedures for terminating and liquidating the fund have begun by executing a sale deal for the Business Park project with a total value of 470 million riyals, not including the real estate transaction tax.
According to the company’s statement on the Saudi Tadawul, work is underway to complete the relevant regulatory procedures.
Retal Company owns a share of 18.82% of the fund’s total units.
It is expected that the termination and liquidation of the fund will have a positive impact on the company’s results for the year 2024 by achieving profits estimated at 45 million riyals, representing investment profits, and the final financial impact value is subject to review by the fund manager.
She noted that Retal’s expected returns would be used to support the company’s sustainable growth and strategic expansion.
She explained that the relevant parties are: Chairman of the Board of Directors, Abdullah bin Abdul Latif Al-Fawzan, Vice-Chairman Member Ali Bin Abdul Latif Al-Fawzan, Member Fawzan Bin Muhammad Al-Fawzan, and Member Fahd Abdul Rahman Al-Mujil.