Kingdom Initiatives Limited

The main activity of KI during 2022-23 was the management of Mid Market Rented housing (MMR). Asat 31 March 2023, KI owned 222 properties in its own right (2022: 180), of which 12 are leased to KHAfor lead tenancy purposes (2022: 12). KI managed 771 units (2022: 666) on behalf of others during theyear. KI let the tenancies and is responsible for the management and maintenance of the properties inaccordance with lease agreements with the landlords.A two year new build programme of 61 units in St Andrews was commenced, funded initially by UoSA.An independent corporate funder is expected to purchase the completed units from UoSA and leasethem to GSA. GSA will rent principally to postgraduates, designated by the UoSA, and will be responsiblefor management of the units. Pending completion of contracts, GSA remained dormant at year end.