Al-Jazira Capital announces the occurrence of a specific event for Al Jazira REIT
| Element List | Explanation |
|---|---|
| Introduction | Al-Jazira Capital announces the renewal of the lease contract for Warehouse No. (1( of Block No. 10 (“First Compound”), with an area of 10,584.43 square meters, with the current tenant “Hassan Ali Al-Touri Co.” for the warehouse located in Al-Khomrah area in Jeddah and owned by Al-Jazira REIT Fund, where the lease period will be for Five years. Thus, the rental details for the tenant are as follows: |
| Description of the Event | - Lease start date: 01/09/2026 - Lease expiry date: 31/08/2031 - Duration of the lease contract: 5 years - Annual rental price: SAR 1,534,742.35 excluding VAT. |
| The Impact Caused by the Event | The financial impact of the deal is expected to be positive on the fund’s revenues for the year 2026, as rental price for the new contract is 3.57% higher than the previous rental price. |
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