Aljazira Capital Announces the Occurrence of Specific Event to AlJazira REIT

ALJAZIRA REITTadawulJuly 22, 2026View on exchange

AI Summary

Al-Jazira REIT Fund has renewed a lease contract with Petromin Co. for a 10,000-square-meter warehouse located in the Al-Khomrah area of Jeddah.
The three-year renewal period will run from May 1, 2026, to April 30, 2029.
The annual rental price is set at SAR 1,350,000 (excluding VAT), which represents a 59% increase over the previous rental price.
The financial impact is expected to be positive on the fund’s revenues starting in the fiscal year 2026.

Element List	Explanation
Introduction	Al-Jazira Capital announces the renewal of the lease contract for Warehouse No. (2( of Block No. 10 (“Second Compound”), with an area of 10,000 square meters, with the current tenant “Petromin 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 Three years. Thus, the rental details for the tenant are as follows:
Description of the Event	- Lease start date: 01/05/2026 - Lease expiry date: 30/04/2029 - Duration of the lease contract: 3 years - Annual rental price: SAR 1,350,000 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 59% higher than the previous rental price.

Element List

Explanation

Introduction

Al-Jazira Capital announces the renewal of the lease contract for Warehouse No. (2( of Block No. 10 (“Second Compound”), with an area of 10,000 square meters, with the current tenant “Petromin 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 Three years.

Thus, the rental details for the tenant are as follows:

Description of the Event

- Lease start date: 01/05/2026

- Lease expiry date: 30/04/2029

- Duration of the lease contract: 3 years

- Annual rental price: SAR 1,350,000 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 59% higher than the previous rental price.