المادة 34: Property Management

Article 34: Property Management

If any of the purposes of the fund was regarding investing in constructionally developed real estates, the fund manager must appoint one or more company(s) to carry out the property managements, after ensuring that it obtains the necessary approvals and licenses to conduct its business and activities from the relevant government bodies, to manage the real estate under investment, and that company must possess the necessary expertise in the field of real estate and its management, where applicable, the company shall be responsible for all services related to property management, including, but not limited to, property management and maintenance, leasing services and rent collection. The fund manager may agree with the lessee - under the leasing agreement - that such lessee be responsible for managing the property and carry out any maintenance during the leasing agreement period (where applicable).