Logo ofDerayah Financial Co.
Derayah Financial Co. manager of theDerayah REIT Fund, said it received a notice from the fund’slegal counsel in Kuwait regarding a court ruling. 
For more news and details on the projects
The Court of First Instance in Kuwait issued a judgment, which remains subject to appeal, in the case filed by the fund against Al Amalayah Co. for Hotels, the former tenant of Motoon Tower in Riyadh.
The court ordered Al Amalayah to pay SAR 13.76 million to the fund, representing unpaid rent related to the Motoon Tower property.
The impact will be reflected according to the outcome of legal and regulatory procedures and the collection of the amounts, the company said in a statement to Tadawul.
Logo ofDerayah Financial Co.
Derayah Financial Co. manager of theDerayah REIT Fund, said it received a notice from the fund’slegal counsel in Kuwait regarding a court ruling.
For more news and details on the projects
The Court of First Instance in Kuwait issued a judgment, which remains subject to appeal, in the case filed by the fund against Al Amalayah Co. for Hotels, the former tenant of Motoon Tower in Riyadh.
The court ordered Al Amalayah to pay SAR 13.76 million to the fund, representing unpaid rent related to the Motoon Tower property.
The impact will be reflected according to the outcome of legal and regulatory procedures and the collection of the amounts, the company said in a statement to Tadawul.
