AL Wasatah Al Maliah (Wasatah Capital) Announces the Occurrence of Specific Event to AL AZIZIAH REIT Fund
| Element List | Explanation |
|---|---|
| Description of the Event | AL Wasatah Al Maliah (Wasatah Capital), in its capacity as the Fund Manager of Al Aziziah REIT Fund, announces the signing of a new lease agreement with Amlak International Finance Company, a listed joint-stock company, to lease a total area of 1,400 sqm in Building (C) in the I-OFFICES property in Riyadh, for a term commencing on 25 October 2026 and ending on 31 December 2030. It is worth noting that Amlak International Finance Company currently occupies Building (D) entirety with a total area of 2,910 sqm, under a lease agreement ending on 24 March 2030. Annual Rental Value for the New contract: SAR 2,695,000 (excluding VAT) Total Value of the New Contract for the Entire Lease Term: SAR 11,280,851 (excluding VAT) |
| The Impact Caused by the Event | It is expected that the financial impact on the Fund will be positive, as the new lease agreement will result in an increase in the annual rental value of the leased space from SAR 1,580,460 to SAR 2,695,000, representing an increase of 70.5%, which will have a positive impact on the Fund’s revenues during the lease term. |
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