Riyadh – Mubasher: The board of MEFIC REIT Fund has approved a non-fundamental change regarding the management of its property portfolio.

The fund has entered into a formal agreement with Dur Assets to manage and operate two of its key assets in Riyadh: the hospitality building and the Souq Sharq complex.

The management and operation contract is scheduled to take effect on 28 July 2026. According to the disclosure, the agreement will span a duration of one year and includes a provision for renewal.

The fund manager expects this strategic appointment to yield positive financial results for the REIT. The primary objectives of the new management arrangement are to reduce overall operating costs and enhance the fund's net returns.

This transition in property management aligns with the fund's ongoing efforts to optimize the performance of its real estate assets within the capital.

In the first half (H1) of 2026, the fund reported a net loss of SAR 3.17 million, representing a loss of SAR 0.04 per unit.