| Element List | Explanation |
|---|---|
| Introduction | Al-Jazira Capital announces the renewal of the lease contract for Warehouse No. (1( of Block No. 4 (“Fourth Compound”), with an area of 10,670.71 square meters, with the tenant “Al-Moqai Almotahid Holding Company” (Al-Moqai Al-Raees property management company previously) 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: 20/03/2025 - Lease expiry date: 19/03/2030 - Duration of the lease contract: 5 years - Annual rental price: SAR 1,280,486 excluding VAT with an escalation in the 3rd year by 8.3333%. |
| 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 2025, as rental price for the new contract is 50% higher than the previous rental price for the first two years, in addition to the agreed-upon escalation in the contract for the last three years. |
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