Logo of Derayah REIT Fund
Derayah Financial, the fund manager of Derayah REIT Fund, reached a settlement agreement with the former tenant of the educational property (school) located in Diriyah Governorate. 
According to a statement on Tadawul, the agreement ended all disputes between the two parties. Diriyah tenant will pay a total of SAR 4.5 million as part of the settlement.
For more news on listed companies
The company further disclosed that this settlement comes on top of a previous SAR 6 million payment made to resolve the dispute.
The property debt will be written off and its provision for doubtful debts, worth SAR 8.4 million, will be closed.
In October, Derayah Financial said a court ruling related to an educational property (school), owned by Derayah REIT, in the Diriyah Governorate was issued, ordering the tenant to terminate the lease contract and vacate the property, Argaam earlier reported.
Logo of Derayah REIT Fund
Derayah Financial, the fund manager of Derayah REIT Fund, reached a settlement agreement with the former tenant of the educational property (school) located in Diriyah Governorate.
According to a statement on Tadawul, the agreement ended all disputes between the two parties. Diriyah tenant will pay a total of SAR 4.5 million as part of the settlement.
For more news on listed companies
The company further disclosed that this settlement comes on top of a previous SAR 6 million payment made to resolve the dispute.
The property debt will be written off and its provision for doubtful debts, worth SAR 8.4 million, will be closed.
In October, Derayah Financial said a court ruling related to an educational property (school), owned by Derayah REIT, in the Diriyah Governorate was issued, ordering the tenant to terminate the lease contract and vacate the property, Argaam earlier reported.
