On May 7, 2026, Alinma Capital Company announced that the Alinma Retail REIT Fund has sold Almakan Mall in Tabouk for SAR 50 million. The mall, which was part of the fund's initial portfolio under previous management, experienced declining performance due to low occupancy, COVID-19 impacts, and changing consumer behavior, generating minimal income with net operating income not exceeding SAR 180,000 in 2025. The sale aligns with the fund manager's strategy to reduce exposure to secondary cities and focus on primary city investments, which increased the fund's primary city ownership to 74.53% by end-2025 and improved net operating income by 51.80%. The proceeds will be used primarily for unit buy-backs, with any excess potentially used for asset enhancement or debt reduction, and the transaction is expected to positively impact cash distributions per unit.

Original announcement:

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