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Meifik Reet terminates Plaza 1 usufruct
The Middle East Investment Financial Company (MIFC Capital) announced that the board of directors of MIFC REIT Fund has decided to terminate the usufruct contract for Plaza 1 property upon its expiration in July 2026. This decision follows an economic assessment that showed extending the contract for an additional period would not be feasible. The move aims to improve the fund’s financial performance and protect shareholders’ interests, focusing on assets with better returns and reducing unviable liabilities. Plaza 1 is managed under a usufruct regime, and a comprehensive review was conducted, leading to the decision not to extend it in order to maintain the fund’s sustainable financial position.
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