Riyadh - Mubasher: Riyad Capital announced that the board of directors of Riyad REIT has approved several non-fundamental changes to the fund’s terms and conditions, effective 24 August 2026.

The updates primarily involve leadership restructuring and administrative adjustments to the fund's operational framework.

The fund manager confirmed the resignation of Raed Al Barakati, who served as the non-independent chairman of the board.

Following this resignation, Abdullah Al Fares has been appointed as the new chairman of the board of directors.

In addition to the leadership change, the fund has updated its auditor information to reflect a new appointment and has revised the official contact details for the fund manager, including the head office address and website.

Further administrative modifications include updates to the Zakat and tax advisor's address and the reordering of specific clauses within the fund’s documentation to ensure regulatory alignment.

These changes, which were detailed across multiple sections of the fund's terms, including paragraphs 6, 18, 19, 23, and 29, are intended to reflect the current governance structure and operational status of the REIT.

At the end of June 2026, the fund’s total asset value reached SAR 2.63 billion, while the net asset value (NAV) stood at SAR 1.11 billion.