MEFIC REIT amends Jeddah, Makkah property purchase terms

MEFIC Capital, the fund manager of MEFIC REIT Fund, said it revised the terms of three property acquisition agreements in Jeddah and Makkah. The changes cover pricing, payment schedules, and completion deadlines for the pending purchases.

The amendments follow the original agreements signed earlier this year. MEFIC did not disclose the revised prices or new timelines in its exchange filing. The fund manager said the changes align the deals with current market conditions and the REIT's capital allocation strategy.

The Jeddah and Makkah real estate markets have seen mixed transaction activity in 2025. Office and commercial assets in the two cities continue to draw interest from institutional buyers, though pricing negotiations have stretched as sellers hold firm on valuations.

MEFIC REIT Fund focuses on income-generating real estate across Saudi Arabia. The REIT held roughly SAR 1.2 billion in total assets as of its last disclosed half-year report. The fund trades on the Saudi stock exchange under ticker 4348.

Shareholders will vote on the amended acquisition terms at an extraordinary general meeting. The fund manager has not set a meeting date yet.